Several ASEAN countries have already taken concrete steps to cope with the impact of the Middle East crisis.
The Philippines has shortened the government work week to conserve fuel, and its president has asked Congress for authority to suspend excise taxes on fuel to help stabilise costs.
Vietnam on Thursday cut its retail fuel prices overnight following the easing in global crude oil prices from earlier highs, but the government warned prices will remain volatile, with more supply disruptions anticipated.
Earlier this month, Thailand also halted energy exports to all countries other than Laos and Myanmar. “It is important that our actions and responses to the ongoing conflicts must be synchronised,” Gepty said.
ASEAN foreign ministers have said that the escalation in conflict was “particularly regrettable” and urged an immediate cessation of hostilities, calling on all sides to exercise maximum restraint, protect civilians, and resolve differences through dialogue in line with international law.