Work from home, avoid air travel to deal with higher energy prices, IEA says

PARIS: The International Energy Agency (IEA), which this month agreed a record release of oil from strategic stockpiles to deal ​with the effects of the US-Israeli war with ‌Iran, outlined on Friday proposals to ease oil price pressures on consumers, such as working-from-home and avoiding air travel.

The US-Israel war with Iran has ​driven up energy prices, causing concerns over inflation ​across the world.

The IEA said its proposals were actions ⁠that governments, businesses and households could take to ease ​the pain on consumers from the recent spike up in ​energy prices.

The IEA said such proposals included working from home, reducing highway speed limits by at least 10 kilometres per hour, and avoiding ​air travel if other means of transport were available.

“We have ​recently launched the largest ever release of IEA emergency oil stocks – and ‌I ⁠am in close contact with key governments around the world, including major energy producers and consumers, as part of our international energy diplomacy,” said IEA executive director Fatih Birol ​in a statement.

“In ​addition to ⁠this, today’s report provides a menu of immediate and concrete measures that can be taken ​on the demand side by governments, businesses and ​households ⁠to shelter consumers from the impacts of this crisis,” added Birol.

The IEA agreed on March 11 to release a record 400 ⁠million ​barrels of oil from strategic stockpiles ​to combat the spike in global crude prices, with the U.S. contributing the ​bulk of the supply.