Transition to EVs picks up pace in SE Asia amid concerns over surging oil prices

Southeast Asia's motorists are expected to accelerate a shift toward electric vehicles amid mounting concerns over fuel costs, as global oil prices surge amid the Middle East conflict.

As of early May 2026, Brent crude futures surged past $120 per barrel in Asian trading. Analysts said a prolonged Strait of Hormuz disruption will keep fuel costs elevated across Southeast Asia, which is a net energy-importing region. The squeeze at the pump is spurring households and businesses to cut reliance on combustion engines, deepening the shift toward cleaner transport.