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Crude Concern

ASEAN moves to prevent hoarding, explore alternative energy sources

Updated: 2026-04-29 11:01
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Fuel prices displayed at a gas station in Bangkok, Thailand, on March 26. DARIO PIGNATELLI VIA GETTY IMAGES

Editor's note: In this weekly feature China Daily gives voice to Asia and its people. The stories presented come mainly from the Asia News Network (ANN), of which China Daily is among its 20 leading titles.

As crude prices soar amid Middle East conflict destabilizing the global supply chain, ASEAN governments have prioritized a singular mission: preventing collective "panic hoarding" while intensifying the search for alternative energy sources to secure national supplies.

In Thailand, authorities have already seized over 57 million liters of smuggled fuel. Prime Minister Anutin Charnvirakul publicly condemned these acts as a primary driver of national shortages.

Similarly, Myanmar's military government has threatened imprisonment for anyone carrying more than 180 liters of gasoline without a permit.

Meanwhile, the governments of Indonesia, Malaysia, and Vietnam have stepped up enforcement against smuggling while repeatedly reassuring the public that supplies remain stable.

Radityo Priyasmoro, a resident of Jakarta, recalled a recent day when long lines at gas stations lasted from morning until midnight following price hike rumors.

Although the Indonesian government has maintained subsidies through 2026, Radityo remains cautious.

With a population of 280 million, Indonesia consumes 1.6 million barrels of oil daily, yet its official reserves last less than 30 days.

"I'll be more careful with spending — switching to a bicycle or public transport unless necessary," he said.

In Vietnam, Doan Minh Anh has shifted to working from home and using electric scooters to save on costs.

"Our family of four used to have four motorcycles. Since Hanoi plans to implement 'Low Emission Zones', we sold one fuel-powered motorcycle for an electric one," she said.

The regional crisis was triggered on Feb 28, after joint US-Israeli strikes on Iran led to the blockade of the Strait of Hormuz. This 33-kilometer-wide choke point handles 25 percent of global seaborne oil.

Currently, the daily traffic has plummeted to just 15-20 ships, down from the usual 120.

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