《Oil Shortage Begins to Impact Southeast Asia》

The oil impact triggered by the US-Israel-Iran conflict is spreading across Southeast Asia. Rising oil and gas prices are disrupting people's lives. In the Philippines, Vietnam, Cambodia, Laos and other countries, gas stations have run out of supply, and fishermen, tuk-tuk drivers and truck drivers face shutdowns. Some temples in Thailand can even no longer maintain cremation services.

International crude oil futures prices broke through the $100 per barrel mark again when trading began for the new week on the 15th evening. The United States, Germany, Japan, South Korea and other countries have already decided to release strategic petroleum reserves. Many Southeast Asian countries have very limited oil reserves. Japan and South Korea's reserves can support over 200 days, while Indonesia and Vietnam have only about 20 to 23 days of reserves, Myanmar about 40 days, and Thailand about 100 days. Southeast Asia is highly dependent on oil transported through the Strait of Hormuz. Nearly 80% of crude oil imports come from the Persian Gulf, and about one-quarter of liquefied natural gas must also pass through this strait.

The Philippine government is distributing subsidies of approximately $84 to tens of thousands of motorcycle tuk-tuk and jeepney drivers in Manila. In Laos, due to reliance on supplies from Thailand, which also faces fuel shortages, over 40% of gas stations have closed due to supply disruptions. Similarly, in Cambodia, which imports fuel from Thailand and Vietnam, nearly one-third of gas stations have shut down.

In Vietnam, the government strongly recommends that non-essential office employees work from home. Thai government officials have put on short-sleeved shirts and called on civil servants to follow suit, as air conditioning temperatures in government office buildings have been raised to approximately 26 degrees Celsius.

Thailand announced it has signed new oil purchase contracts with Angola and the United States. However, it also stated that because it can no longer borrow more funds from the national oil fund, it has to allow oil prices to rise. Thanyu Kongkhun, chairman of Thailand's Land Transport Association, criticized the government as "incompetent and poorly managed," and led dozens of truck drivers to park vehicles along roads leading to Laem Chabang Port in protest. Thailand's fishing industry has also been affected, with some fishermen unable to afford to go out to sea. An official from a coastal fishing organization in Samut Prakan Province said: "This crisis happens abroad, but we are the victims." Gas stations are out of fuel everywhere, queues form everywhere to get gas, and some gas stations are directly shutting down. Fuel is starting to be rationed, with some limiting to 1,000 Thai baht and others to 500 baht. Fuel shortages have affected Thailand's funeral industry. Multiple temples in Thailand have suspended free cremation services because the cremation process mainly uses diesel, and many gas stations say they have no diesel available. Temples in remote areas of Thailand are the most severely affected by fuel shortages, with cremation fees rising by about 25%, reaching approximately 6,000 Thai baht per service.

For Myanmar, this oil impact is adding insult to injury. This month, the military government implemented odd-even license plate restrictions to save fuel.

Even in Singapore, the government has warned that electricity prices may rise. Last year, approximately 47% of the country's liquefied natural gas came from Qatar. Singapore's President Halimah Yacob stated that Singaporeans must "prepare for a long-term global political turmoil storm."

Oil shortages hit multiple areas in Laos. Chinese residents in Vientiane say 90% of gas stations have no oil to sell, with queues lasting at least two to three hours. Gas stations in multiple regions of Laos have long queues, with many people waiting hours to fill up just a few liters of fuel. Of the over 2,500 gas stations, more than 1,000 have suspended operations due to supply shortages, accounting for over 40%. Diesel prices have risen by over 40%, while high-octane gasoline prices have risen by over 30%. Electric bicycles, which don't require fuel, are currently sold out.

This is the result of Middle East warfare, with the entire world footing the bill!