Strait of Hormuz "blockade," multiple countries announce emergency response measures

Recently, tensions in the Middle East have escalated, blocking the passage of the vital energy transportation route, the Strait of Hormuz, impacting international energy supplies. Many governments announced emergency measures on April 1.

Croatia:

Releasing 35k tons of diesel from mandatory reserves

Croatian Economy Minister Ant Šušnjar said on April 1 that the government has decided to release 35k tons of diesel from its mandatory oil and petroleum product reserves into the market. According to local media reports, this release of diesel accounts for about 5% of its mandatory reserves, equivalent to Croatia’s four days of consumption.

South Korea:

Public agency vehicle restrictions starting April 8, implementing “odd-even” license plate limits

The South Korean government announced on April 1 that starting April 8 local time, restrictions on public agency vehicles will be upgraded from the previous “end-of-week license plate restrictions” to a stricter “odd-even license plate restrictions.”

Additionally, the government decided to raise the crude oil resource security crisis alert from level 2 “Caution” to level 3 “Alert” starting at 0:00 local time on April 2, and to upgrade the natural gas security crisis alert from level 1 “Concern” to level 2 “Attention.”

Malaysia:

Government agencies and affiliated companies to implement remote work starting April 15

On April 1, Malaysian Prime Minister Anwar announced that to address the global energy supply tightness, the Malaysian Cabinet has decided that starting April 15, all Malaysian government departments, agencies, and government-affiliated companies will fully implement remote work policies.

Australia:

Prime Minister urges citizens to conserve fuel

Australian Prime Minister Albanese delivered a rare nationwide televised speech on April 1, warning that the impact of U.S. and Israeli strikes on Iran on the Australian economy will last a long time. He called on the public to conserve fuel, use public transportation as much as possible, and avoid panic buying fuel.

High natural gas prices: UK introduces new regulations to promote energy transition

The UK has historically relied heavily on natural gas, but its storage capacity is relatively limited, which amplifies external shocks. Currently, the UK government is trying to accelerate its energy transition to reduce dependence on fossil fuels.

BBC reporter Yang Jingjing: In response to the energy price fluctuations caused by tensions in the Middle East, the UK market reacted notably. Data shows that in early March, just one week after the U.S. and Israel launched military strikes against Iran, UK natural gas prices surged by about 70%. The rising energy costs further fueled inflation expectations. UK Energy Minister stated that the Middle East conflict underscores the importance of developing clean energy to ensure UK energy security and free the country from fossil fuel market constraints.

Recently, new UK regulations require all new homes in England to install heat pumps and solar panels. Many communities have already considered this during construction, replacing traditional gas heating with heat pumps and integrating rooftop photovoltaic systems. This not only reduces residents’ energy expenses but also helps ease national electricity demand. However, these regulations will only be implemented starting in 2028.

Poland introduces measures to stabilize oil prices

BBC reporter Zhang Juan: Due to the ongoing escalation of the Middle East situation, international crude oil prices have risen, with Polish oil prices increasing by over 30% in the past month. To mitigate the impact of rising energy prices on people’s lives and the transportation industry, and to counter potential inflation, the Polish government recently announced a reduction in fuel VAT and lowered fuel excise taxes to the minimum allowed by the EU.

Starting from March 31 local time, Poland implemented a package of measures, reducing fuel VAT from 23% to 8%. At the same time, a maximum daily price for refined oil was introduced, and companies violating the price cap face fines of up to 1 million zloty (about 1.85 million RMB).

After the new regulations took effect, fuel prices in Poland decreased by about 2 RMB per liter. For example, the maximum price for 95-octane gasoline is now 6.16 zloty per liter (about 11.4 RMB), and diesel is capped at 7.6 zloty per liter (about 14 RMB). Following the price reduction measures, many gas stations saw a noticeable increase in customers.

Germany enacts new regulation:

Gas stations can only raise prices once per day

In neighboring Germany, a regulation effective April 1 stipulates that gas stations can only increase fuel prices once at noon each day. Price reductions are not restricted by time, and violations can result in fines of up to 100k euros (about 800k RMB). The regulation also grants the national anti-monopoly authority greater powers to combat issues like inflated fuel prices.

European countries intensify new regulations to address rising energy prices and ease inflationary pressures

Additionally, Austria has cut fuel taxes starting April 1.

Sweden’s government has reduced VAT on food and beverages sold in stores and restaurants’ takeout from 12% to 6% to ease inflation, and has proposed lowering gasoline taxes starting May 1.