Hormuz crisis impacts Asian economies

The shock to global energy supplies is driving up the price of liquefied petroleum gas and diesel, leading to inflation and potential economic stagnation across the region.

In the Philippines, traditional beef stew vendors are struggling to maintain their businesses as LPG costs skyrocket.

Meanwhile, Indian farmers fear a critical shortage of fertilizers, most of which are shipped through the contested waterway.

Governments are implementing emergency measures, including fuel tax suspensions, to shield their citizens from the worst effects of the conflict.