The International Energy Agency (IEA) has called on governments, including the UK, to adopt emergency measures to reduce oil demand as the Middle East conflict disrupts global supply. Recommendations include encouraging working from home, carpooling, and reducing highway speed limits by at least 10 km/h.
The IEA also suggested restricting car access in large cities through odd-even number plate schemes and promoting efficient driving for commercial vehicles. The measures aim to help households and businesses prepare for a prolonged disruption to energy markets amid rising petrol, diesel, and LPG prices.
In the UK, the government has pledged support for vulnerable households struggling to pay for heating oil. The IEA previously ordered the largest release of government oil reserves in its history to calm the market, but warned that recovery will take time.
The crisis follows military strikes on Iran, triggering significant supply disruptions through the Strait of Hormuz. IEA Executive Director Fatih Birol said that without a swift resolution, the impacts on energy markets and economies will become increasingly severe.
