Governments move to protect consumers from energy price spikes

Governments in Europe and Asia are taking action to shield their citizens and economies from rising energy costs. The EU is reviewing gas supply risks and leaders are looking for quick fixes, while Greece announced subsidies for consumers and farmers. The UK is providing £53 million for vulnerable households using heating oil.

In Japan, the government is releasing a one-month supply of oil from its national reserves to refineries. It is also increasing its gasoline subsidy to 48.1 yen per liter, bringing the retail price down to around 177 yen, with a total of 800 billion yen allocated from reserve funds for this support.