Australia and Singapore Agree to Cooperate on Ensuring Smooth Fuel Supply Amid Global Energy Crisis

Kathmandu. Australia and Singapore agreed on Monday to cooperate in ensuring the smooth supply of fuels, including oil and diesel. These countries are currently facing a global energy crisis due to the recent conflict in the Middle East.

Global oil prices have risen as the conflict between the United States, Israel, and Iran has centered around the Strait of Hormuz, through which approximately 20 percent of the world's oil and gas is transported.

In a joint statement, Australia and Singapore on Monday expressed deep concern about the situation in the Middle East and its impact on their region.

They stated their commitment to working together to make energy supply smooth and robust. They agreed to strengthen energy security and support the flow of essential goods, including petroleum products and natural gas.

Currently, petrol prices have increased in Australia, and officials have called on residents to purchase only essential goods due to the high inflation.