Consumers' role during war and energy crisis

The recent global tension involving Iran and the United States has become a matter of serious concern, and consumers also have an important role in this situation. Although the ripple effects of the conflict are being felt across the world, countries like Bangladesh, which are dependent on imports of energy, are particularly under pressure. As oil is essential for transportation and daily use, the price increase is creating pressure on many families. Consumer behaviour is also affecting the market.
The Middle East is a major source of oil, and important routes like the Strait of Hormuz become risky during such conflicts. When there is fear of supply disruption, oil prices increase in the global market. Since Bangladesh depends heavily on imported oil, the effect is direct and leads to a higher cost of living.
However, consumers are not completely free from responsibility. Many people buy more oil than necessary due to fear of future price increases. This panic buying increases demand and makes the situation worse. Careless use and wastage of oil also add extra pressure on supply. To improve the situation, consumers should act responsibly by avoiding unnecessary purchases and using oil carefully. Awareness among people can help reduce excess demand. At the same time, the government should monitor the market and take strict action against unfair practices.
Although the war cannot be controlled by ordinary people, responsible consumer behaviour can help reduce its impact on daily life.
Faria Hoque Tuly
BBA Department
North South University
Faria.tuly@northsouth.edu