A look at how different countries are responding to rising energy costs
As oil prices continue to rise as a result of the conflict in the Middle East, governments around the world are implementing measures to minimize the effects of this price increase.
2026-03-24 18:32:49 - VI News Staff
Countries including South Korea, China, Croatia and Hungary have introduced price caps on oil.
Here’s a look some other measures being put in place:
Philippines: The president of the Philippines, Ferdinand Marcos Jr., declared a “national energy emergency” today, Filipino state media People’s Television Network reported. This will help the government “to implement responsive and coordinated measures under existing laws to address the risks posed by disruptions in the global energy supply and the domestic economy,” Marcos said, according to PTV.
Pakistan: On March 9, Pakistan’s Prime Minister Shehbaz Sharif announced a series of extreme austerity measures, including the closure of schools, a ban on overseas visits by Pakistani officials, and requiring half of public and private sector employees to work from home.