"Stay Home from School, Work Only Four Days"... Nations Tighten Belts as Oil Prices Soar

Concerns Grow Over Potential for Social Unrest

As the Middle East war continues and oil prices soar, countries that have relied on price controls are now implementing energy-saving policies.

On March 20 (local time), The Wall Street Journal (WSJ) reported that while governments initially focused on mitigating the shock of rising energy prices immediately after the U.S. and Israeli airstrikes on Iran, there is growing consensus that controlling prices without reducing energy demand cannot resolve this crisis.

Germany has limited gas station price increases to once a day, and France has warned it will fine companies caught inflating fuel prices. Hungary has introduced a cap on fuel prices. Slovakia has restricted diesel sales at major stations and imposed higher prices on vehicles with foreign license plates.

Now, measures to reduce energy consumption are being introduced one after another. Sri Lanka has implemented a four-day workweek for public institutions and schools, and launched a fuel rationing system. Bangladesh has ordered universities to close and banned lowering indoor temperatures below 25 degrees Celsius. Pakistan ordered schools to close for two weeks, while the Maldives and Nepal restricted the supply of liquefied petroleum gas (LPG) for cooking and encouraged the use of electric stoves.

India has also seen LPG supplies reduced, prompting people to cut down on food menus at events such as weddings, or seek alternative fuels like charcoal and firewood. In Thailand, TV hosts have appeared on air in light clothing without jackets to encourage indoor temperature control, while civil servants have been advised to work from home more and wear simpler attire.

However, dissatisfaction with demand suppression policies is also growing. In the UK, controversy over "lukewarm beer" arose after the government recommended pubs and restaurants turn off refrigeration for bottled beer at night. In the Philippines, the transportation sector protested, demanding a reduction in fuel taxes and an increase in fares.

Some companies are seizing the situation as a business opportunity. In Germany, there has been a surge in advertisements for USB devices and magnets claiming to save fuel, but ADAC, Germany's largest automobile service association, has warned that these products have no effect.

There are also concerns that the global surge in energy prices could lead to social unrest. In fact, in 2022, Sri Lanka experienced a regime collapse as energy and economic crises converged.

This content was produced with the assistance of AI translation services.