Any fuel export quotas are likely to be put in place after the lifting of an export ban and would be similar to Russian restrictions on cross-border fertiliser sales.

They say the problem lies in enforcement and the establishment of laws to prevent foreign drivers from buying petrol meant for Malaysians.

Heavily reliant on energy imports, Bangladesh is grappling with power cuts resulting from a fuel shortage that have badly hurt its exports-oriented garments industry.

Petrol prices in New Zealand, like elsewhere, have risen sharply since Russia's attack on Ukraine started around a year ago, contributing to significant inflation.

The decree will be in effect from Feb 1 until July 1.

With the country depending entirely on imports since April, the failure of a recent shipment to pass quality tests resulted in shortages at Auckland Airport, the country's busiest.

Unions in other industries and the public sector have also announced action to protest against the twin impact of soaring energy prices and overall inflation on the cost of living.

A coalition of gangs has prevented the distribution of diesel and gasoline for over a month to protest a plan to cut fuel subsidies.

Britain is battling the highest inflation among major advanced economies.

Southeast Asia's largest economy has tripled this year's energy subsidy budget to US$34.22 billion in order to keep some fuel prices and power tariffs unchanged and manage inflation.

The approvals for oil firms to be picked in the new process will effectively end a market duopoly involving a subsidiary of India's state-run Indian Oil Corp.

The country of 22 million people is unable to pay for essential import of food items, fertiliser, medicines and fuel due to a severe dollar crunch.