Asia Is Running Out of Fuel. The Philippines Has 45 Days Left. South Korea Told Its Citizens to Take Shorter Showers. A Russian Tanker Just Arrived in Manila. It Was the First in Five Years.

The Strait of Hormuz has been shut for 25 days. Asia buys 80% of the oil that transits it. Countries are now breaking sanctions to survive.

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Asia is running out of fuel. The Philippines declared a national energy emergency on March 25 with 45 days of supply remaining, the first country to do so since the war began, according to Bloomberg and Philstar. South Korea told its citizens to take shorter showers, charge their phones during the day, and vacuum on weekends, according to Reuters and CNBC. Japan is launching its biggest emergency oil reserve release in history, according to CNN. Sri Lanka declared every Wednesday a public holiday to save fuel, according to Reuters. A Russian oil tanker carrying 750,000 barrels just arrived in Manila Bay. It was the first Russian oil delivery to the Philippines in five years. Gas in America went from $2.98 to $3.96 in 23 days.

📋 In this issue:

• 🛢️ The Story

• 📊 By The Numbers

• 🔍 Why It Matters

• 👀 What to Watch

• 🚨 Gosships Signal

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→ Philippines: National Energy Emergency Declared, 45 Days Of Fuel Remaining (Bloomberg, Philstar, March 25)

→ South Korea: Citizens Told To Take Shorter Showers, Charge Phones During Day, Vacuum On Weekends (Reuters, CNBC, March 25)

→ Japan: Launching Biggest Emergency Oil Reserve Release In History, $5 Billion In Subsidies (CNN, Reuters, March 25)

→ Sri Lanka: Declared Every Wednesday A Public Holiday To Save Fuel (Reuters, March 25)

→ Pakistan: Schools Closed For Two Weeks, Office Workers Working From Home (Reuters, March 25)

→ China: Restricted Overseas Shipments Of Fuel To Protect Domestic Supply (CNN, March 25)

🛢️ The Story

The Philippines became the first country to declare a national energy emergency as a direct result of the Iran war. On March 25, President Ferdinand Marcos Jr. signed Executive Order 110, citing “an imminent danger of a critically low energy supply,” according to Bloomberg and Philstar. In an interview with Bloomberg at the presidential palace, Marcos said the country has approximately 45 days of fuel remaining.

Virtually all of the Philippines’ oil and gas comes from the Middle East and is shipped through the Strait of Hormuz, according to the Moscow Times. The country has one operating crude oil refinery, owned by Petron in Bataan, according to The National. Marcos said grounding planes is “a distinct possibility,” according to Bloomberg.

On March 24, the Sierra Leone-flagged tanker Sara Sky arrived at the Limay anchorage in Manila Bay carrying approximately 100,000 tonnes, or roughly 750,000 barrels, of ESPO Blend crude from Russia’s Kozmino port, according to Reuters, MarineTraffic, LSEG, Kpler, and OilX via Philstar. It was the first Russian oil delivery to the Philippines in five years.

The delivery was made possible by the U.S. Treasury’s temporary authorization issued on March 12, allowing countries to purchase Russian oil loaded between March 12 and April 11, according to the Moscow Times. Philippine Foreign Affairs Secretary Ma. Theresa Lazaro told local media: “We regard all nations as our friends, and as much as possible we strive to avoid misunderstandings with other countries. At present, we are in need of oil,” according to BusinessMirror.

Budget carrier Cebu Pacific announced it is suspending international routes and cutting frequencies across its network, citing fuel prices that “have more than doubled compared with 2025 averages,” according to Philstar and AeroTime. Routes from Davao, Iloilo, Clark, and Manila to destinations across Asia and Australia are being suspended or reduced from April through October, according to Philstar.

The Philippines is not alone. CNN reported on March 25 that Asia is embracing “energy austerity” as the war enters its fourth week. The Middle East accounts for approximately 60% of Asia’s oil supply, according to CNN. Asia buys more than 80% of the crude that transits the Strait of Hormuz, according to Reuters.

South Korea launched a public campaign on March 25 asking citizens to cut shower time, charge phones during the day, and run vacuums on weekends, according to Reuters. The government imposed a five-day license plate rotation system to restrict public-sector vehicle traffic, according to CNBC. South Korea’s Prime Minister Kim Min-seok warned that the government must prepare for “worst-case scenarios” as the conflict shows signs of persisting, according to Bloomberg. South Korea is also considering limiting exports of naphtha, a petroleum byproduct used in plastics manufacturing, according to CNN.

Japan announced its biggest emergency oil reserve release in history, according to CNN. The Japanese government plans to tap 800 billion yen, approximately $5 billion, in reserve funds to subsidize gasoline prices at approximately 170 yen per litre, according to Reuters. Japan told citizens there was no need to hoard toilet paper amid growing panic over potential shortages, according to CNN.

Pakistan closed schools for two weeks and said office workers would work more from home, according to Reuters. Sri Lanka declared every Wednesday a public holiday to make fuel supplies last longer, according to Reuters. Thailand ordered government workers to suspend overseas trips, set air conditioning above 25 degrees Celsius, avoid suits and ties, use stairs instead of elevators, and work from home, according to Reuters. Singapore urged people and businesses to switch to energy-efficient appliances, use electric vehicles, and raise air conditioning temperatures, according to Reuters. New Zealand announced temporary financial support of NZ$50 per week for low-income families starting in April, according to Reuters.

China restricted overseas shipments of fuel and other materials to protect domestic supply, according to CNN.

Airlines across the region are cutting flights. Vietnam, the Philippines, Australia, and Pacific island nations have all suspended or reduced service, according to CNN. The threat of running out has raised concerns about how shortages could cascade through Asia’s manufacturing industry and make goods like electronics, cars, and textiles more scarce, according to CNN.

This is what happens when 20% of the world’s oil supply gets shut off for 25 days. Countries start declaring emergencies. Airlines start grounding planes. Citizens start taking shorter showers. And a Russian tanker arrives in a country that hasn’t bought Russian oil in five years because it has no other choice. What this means for tanker demand, for crude flows, for the shadow fleet, and for every broker watching Asia scramble for supply is below.

📊 By The Numbers

The Shortage:

→ Strait Of Hormuz Effectively Shut Since February 28 (Multiple Sources)

→ 20% Of Global Oil Supply Transits Hormuz (Bloomberg, Reuters, Al Jazeera)

→ 60% Of Asia’s Oil Comes From The Middle East (CNN, March 25)

→ 80% Of Crude Transiting Hormuz Goes To Asia (Reuters, March 25)

→ 3,200 Vessels Stranded In The Persian Gulf (CNBC, March 18)

→ U.S. Gas Price: $2.98 To $3.96 In 23 Days (Fortune; AAA, March 23)

The Response:

→ Philippines: National Energy Emergency, 45 Days Of Fuel, First Russian Oil In 5 Years (Bloomberg, Philstar, March 25)

→ South Korea: Shorter Showers, Phone Charging Limits, License Plate Vehicle Rotation (Reuters, CNBC, March 25)

→ Japan: Biggest Emergency Oil Reserve Release In History, 800 Billion Yen ($5B) In Subsidies (CNN, Reuters, March 25)

→ Sri Lanka: Every Wednesday A Public Holiday To Save Fuel (Reuters, March 25)

→ Pakistan: Schools Closed Two Weeks, Work From Home Orders (Reuters, March 25)

→ China: Restricted Overseas Fuel Shipments To Protect Domestic Supply (CNN, March 25)

Additional Verified Data:

→ Sara Sky (Sierra Leone-Flagged): 100,000 Tonnes (~750,000 Barrels) ESPO Blend From Kozmino Port, Arrived Limay March 24 (Reuters, MarineTraffic, Philstar)

→ Cebu Pacific: Suspending Routes, Cutting Frequencies, Fuel Prices “More Than Doubled” (Philstar, AeroTime)

→ Philippines Has One Operating Refinery (Petron, Bataan) (The National)

→ Marcos: Grounding Planes “A Distinct Possibility” (Bloomberg) → Thailand: No Overseas Trips, AC Above 25°C, Use Stairs, Work From Home (Reuters)

→ Singapore: Energy-Efficient Appliances, EVs, Raise AC Temperatures (Reuters)

→ New Zealand: NZ$50/Week For Low-Income Families Starting April (Reuters)

→ Slovenia: First European Country To Introduce Fuel Rationing (CNBC)

Related Coverage

Goldman Sachs Just Called This “The Largest Supply Shock in the History of the Global Crude Market.” (March 2026)

Russia Is Making $150 Million Extra Per Day From the Iran War. (March 2026)

Asia is running out of fuel. The Philippines has 45 days. South Korea is rationing showers. Japan is draining its reserves. A Russian tanker just made its first delivery to Manila in five years. What this means for tanker demand across every crude route, which countries are next, and what happens when the strategic reserves run dry is below.

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🔍 Why It Matters

For VLCC and Suezmax brokers, Asia’s energy emergency is the largest