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Britain faces a looming fuel crisis, with former BP executive Professor Nick Butler warning of significant shortages and price hikes by late April. Weeks of disruption in the Strait of Hormuz have depleted existing fuel supplies, prompting calls for the government to release an emergency plan and reconsider domestic energy production.
Nearly 10% of global fuel demand is currently unmet, leading to a "crisis a day" and soaring oil prices. Experts warn of looming diesel and jet fuel shortages, particularly in Europe and Asia, with potential for significant economic disruption. The crisis is exacerbated by geopolitical tensions and a lack of preparedness, raising concerns about a potential recessionary impact.
Bangladesh is facing a severe fuel shortage, leading to long queues at petrol stations. The crisis is a direct result of panic buying triggered by the bombing of oil refineries in Iran, disrupting crucial supply lines. Authorities are appealing for calm and conservation amidst the growing concern.
