New Delhi, May 9 -- Southeast Asian leaders adopted a contingency plan Friday to mitigate the impact of the Iran war on their people and economies but acknowledged it will be difficult to enforce complex steps like establishing a regional fuel reserve to ensure a steady supply.

The Philippines, among the worst affected by fuel price spikes caused by the Iran war, hosted the group's annual summit on the central island province of Cebu. President Ferdinand Marcos Jr. ordered the summit stripped of the traditional pomp and pageantry in keeping with the economic headwinds worldwide.

ASEAN's contingency plan calls for actions including the ratification possibly this year of an agreement that will pave the way for coordinated emergency fuel s...