Some countries across Asia have announced measures to deal with the impact of soaring global energy costs caused by the US-Israel war with Iran, including capping petrol prices.
On Monday, crude oil surged above $100 a barrel on concerns about potential shortages due to prolonged disruption to Middle East energy supplies.
At the weekend, Iran named Mojtaba Khamenei as its new Supreme Leader - a sign that hardliners remain in charge of the country - while some Gulf countries halted oil production and there were fresh airstrikes in the region.
Capping retail prices of any commodity just means the government will subsidize the cost and/or there will be wide shortages as supply cannot meet demand at the set price level. Its never sustainable.
It’s fine if those subsidies come from the families that have too much wealth.
We need to remember, everyone has less because they have more.