Governments worldwide are scrambling to shield consumers from the impact of rising energy costs, triggered by the U.S.-Israeli war on Iran. Various countries are implementing measures to ensure fuel availability, ease shortages, and cap prices.
India is reviewing its fuel exports to ensure local markets are supplied, while South Korea is easing coal-fired power generation limits and boosting nuclear power plant utilization. China has banned refined fuel exports to prevent a domestic shortage, and Australia is releasing petrol and diesel from domestic reserves to ease rural supply chain shortages.
Other countries, including Japan, the European Union, Bangladesh, and Italy, are also taking steps to mitigate the impact of soaring energy costs. Measures include cutting excise duties, offering subsidies, and capping domestic diesel prices.
As the global energy crisis deepens, governments are racing to find solutions to shield households and businesses from the rising costs.
