‘45 days of fuel left’ - Philippines declares energy emergency as Middle East tensions push oil higher
The Philippines has put its energy agencies on emergency footing after President Ferdinand Marcos Jr. signed an order on March 24 warning that the worsening Middle East conflict could squeeze global oil supply and hit Filipinos through higher pump prices and power bills.
Energy Secretary Sharon Garin said the country has roughly 45 days of fuel on hand, but officials are preparing for a longer disruption. Manila plans to set aside about 20 billion pesos to build a diesel buffer and is aiming to secure two million barrels, about 10 extra days of supply, with initial purchases coming from within and outside Southeast Asia.
The executive order frames the US-Israel-Iran conflict as an external shock that could quickly spill into inflation in an economy that imports most of its fuel. To blunt that impact, the government said it will roll out targeted fuel support for key sectors, tighten enforcement against hoarding and profiteering, and accelerate approvals for projects meant to stabilise supply and electricity generation, The Straits Times reports.
Meanwhile, Jeepney drivers have staged transport strikes over rising diesel costs, arguing that higher fuel prices are cutting into already slim earnings. In the aviation sector, budget carrier Cebu Pacific has suspended several international routes until October, citing operational adjustments due to the rise in fuel costs and regional uncertainty.
Marcos also warned that tougher measures could follow if conditions deteriorate further, including possible restrictions on flights.
The emergency steps can remain in force for up to one year unless lifted earlier.
This story is written and edited by the Global South World team, you can contact us here.
