Following its agreement earlier this month to release a record volume of oil from strategic reserves, the International Energy Agency (IEA) on Friday suggested measures to ease the pressure of high oil prices on consumers, such as working remotely and avoiding air travel.
Conflict between the U.S. and Iran has driven up energy prices, fueling global concerns about inflation.
The IEA stated that its recommendations are actions that governments, businesses, and households can take to reduce the burden on consumers caused by the recent surge in energy prices.
These proposals include working from home, lowering highway speed limits by at least 10 kilometers per hour, and avoiding flights when alternative transportation is available.
Fatih Birol, Executive Director of the IEA, said in a statement, "We recently launched the largest-ever emergency oil stock release in IEA history—as part of our international energy diplomacy, I am maintaining close contact with governments worldwide, including major energy producers and consumers."
Birol added, "Moreover, today’s report offers a range of immediate, concrete steps that governments, companies, and households can take on the demand side to help cushion the impact of this crisis on consumers."