Petrol tax cuts, fuel rationing, free public transport and mid-week public holidays are among the measures overseas governments have turned to as the crisis in the Middle East continues to send prices surging.
The effective closure of the Strait of Hormuz – through which around 20% of the world's oil passes – has forced countries to get creative in shielding their populations from soaring energy costs.
In New Zealand, Prime Minister Christopher Luxon announced last week the Government would provide support for low-to middle-income families through a $50 boost to the in-work tax credit, estimated to benefit around 143,000 working families with children.
Refineries in Singapore and South Korea are crucial to New Zealand’s fuel provisions. (Source: 1News)
But the Government has not taken any steps at this stage to drive less fuel consumption.
Here's a look at how different parts of the world are responding to the global fuel crisis.
Across the Tasman
Australia's prime minister Anthony Albanese announced yesterday it would halve federal fuel excise on petrol and diesel for three months, saving motorists more than A20c a litre. It also cut heavy vehicle road user charges to zero for three months.
The government has also underwritten the purchase of fuel by private companies.
Victoria's premier, Jacinta Allan, announced the state's public transport system – close to the busiest in the country, second only to New South Wales – will be free for passengers over the entire month of April.
"This is a temporary measure to help with the cost of living – it will take pressure off the pump and help you save," she said.
The measure will apply to buses, trains, trams and ferries in the state. Passengers in Australia's least populous state of Tasmania will also have fares waived until June.
However, state governments in New South Wales, Queensland (which already has 50-cent flat fares), Western Australia and South Australia have all ruled out following suit.
"This situation will last more than a month," said NSW Transport Minister John Graham. "We need to keep our powder dry to be able to assist the broader economy."
Asia hit hard
Around the world, governments have chosen different responses depending on how their citizenry is placed to respond, with nations in Asia particularly hard hit — around 80% of the oil moving through the Strait of Hormuz was bound for the continent.
Most of New Zealand's fuel was also imported from Asian refineries.
In South Korea, the president moved to introduce domestic fuel price caps for the first time in three decades. Seoul has also limited refined oil exports to 2025 levels.
Additionally, Korea was restricting public-sector car use with a five-day rotation system. The Korea Herald reported that cars would be divided into five groups based on their licence plate numbers, and each group prohibited from driving on one weekday.
Singapore, another major supplier of New Zealand fuels, was confident it had enough reserves for "months" but urged residents to conserve energy.
But in the Philippines, authorities declared a national emergency last week, with the government pushing for a four-day working week for parts of the public sector.
The BBC reported jeepney drivers were among the businesses worst affected, with some now earning almost nothing on their shifts after fuel prices gutted their margins. Fishers and farmers have also been hit hard.
In China, the government moved to limit the level of hikes for consumers through its existing pricing mechanism, where maximum rates are set regularly by local authorities.
Sri Lanka, still recovering from its 2022 economic crisis, declared Wednesdays a public holiday and introduced fuel rationing, with long queues forming at petrol stations. Motorists will be limited to 15 litres of petrol or diesel per week.
Myanmar has also brought in an alternate-day policy for private vehicles and Thailand ordered public servants to work from home.
European responses
In Europe, governments have turned to pricing interventions.
Germany's parliament last week passed legislation restricting petrol stations to a single price increase per day from early April, with potential fines of up to €100,000 ($200,000).
In the United Kingdom, the government announced a freeze on fuel duty, £53 million ($122m) to support vulnerable users of oil heating, and what it called an "anti-profiteering framework" to allow regulators to clamp down on price gouging.
Ireland cut excise duty on diesel by 20 cents per litre and on petrol by 15 cents, with Taoiseach Micheál Martin saying the move would "help shield" homes and businesses.
Meanwhile, Spain proposed a €5 billion ($10b) package of measures including cutting some taxes applying to fuel and granting additional subsidies for certain sectors.
Pacific bracing for impact
Closer to home, the Pacific is bracing for the full impact of the crisis.
In Fiji, officials have warned the public against panic buying and hoarding, with the country holding enough fuel reserves for three months. Finance minister Esrom Emmanuel said the government had met with fuel companies.
Isolated island nations face unique challenges as global fuel crisis deepens. (Source: 1News)
While some countries in the region bulk buy fuel and have months' worth of reserves, the region's isolation presents its own challenges.
Most power stations across the Pacific run on imported diesel, and fuel is critical for major projects – including a near-$100 million road and bridge project in Tonga – as well as for fishermen who depend on it to feed their families.
The chief of section for economic affairs at the UN Trade and Development, Frida Youssef, said the crisis had wide-reaching consequences for small island nations.
“It's affecting transport, its affecting energy, it's affecting food and also cost and availability of all these," she said.
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