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Lao Economy Grinding to a Halt as Fuel Crisis Deepens – The Diplomat

ASEAN Beat | Economy | Southeast Asia

A plummeting currency, dwindling foreign reserves, and a spike in global oil prices have led to shortages across the country.

A seller and customer at gas station in Muang Xay, Laos, on August 15, 2012.

Credit: Depositphotos

Motorists in the Lao capital Vientiane have been forced to queue for hours at petrol stations as a fuel crisis tightens its grip, the latest sign in a brewing economic crisis in the nation of 7 million.

According to a report in the Laotian Times, crisis comes as the country’s COVID-19-hit economy has been buffeted by the impacts of rising global oil prices and a weakening local currency. The resulting fuel shortages have been seen in provincial areas for weeks, but arrived in the capital on Monday afternoon, causing motorists to line up for hours to fill their tanks,…

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