Southeast Asia’s motorists are increasingly feeling the pinch as the Iran energy crisis extends into its eighth week. Fuel prices have soared across the region, and drivers are waiting in long lines outside petrol stations in Thailand, Vietnam, and the Philippines, hoping to fill their tanks.
While oil prices have slipped from their highs just a few weeks ago—West Texas Intermediate crude is currently hovering around $90 per barrel—they are still far above prewar levels. The closed Strait of Hormuz, as well as export bans of refined fuel products from countries like China and South Korea, have cut off petrol supplies in Asia.
