Fuel could be rationed and funnelled towards critical sectors such as emergency services under worst-case-scenario planning for shortages caused by the Iran war. The plan, agreed to by state, territory and Commonwealth leaders at a national cabinet meeting, set out an approach for what circumstances would warrant action to protect fuel supplies and the economy. … Read more
The effective closure of the Strait of Hormuz after the US and Israel began their war with Iran in late February has sent shockwaves across the globe. Oil prices have soared and stock markets have wobbled as the world waits to see when Iran will allow the key waterway – through which about 20% of … Read more
Sri Lanka has been forced to raise fuel prices by almost one third in two weeks [Getty] Rising oil and gas prices driven by the US-Israeli war on Iran over the past three weeks have created a global fuel crisis, prompting governments to introduce urgent measures to limit the impact on economies and fuel supplies. … Read more