The Philippines has officially declared a national energy emergency, with President Ferdinand Marcos Jr signing an executive order to address fuel shortages and rising prices linked to the conflict in the Middle East.
The move comes as global energy markets remain under big pressure following the US-Israel war with Iran and the disruption of shipping through the Strait of Hormuz, a critical route for oil and gas. The country, which imports about 98 percent of its oil from the Gulf, has seen fuel prices surge sharply since fighting began on February 28. Prices for diesel and petrol have now more than doubled compared to pre-war levels.
Marcos said the order was necessary due to the “imminent danger posed upon the availability and stability” of the nation’s energy supply.
The declaration gives the government expanded authority to manage resources and stabilize the situation, and it will remain in effect for one year unless lifted earlier.
Officials say the government can now directly procure fuel and petroleum products to ensure adequate supply. A national committee has also been established to oversee distribution of essential goods, including fuel, food, and medicine, as conditions continue to shift.
Energy Secretary Sharon Garin said earlier this week that the country has approximately 45 days of fuel reserves remaining. She added that the Philippines would “temporarily” rely more on coal-fired power generation as costs for liquefied natural gas continue to rise.
The government has already taken steps to reduce fuel consumption, including cutting some ferry services and implementing a four-day work week for civil servants. Subsidies have also been provided to transportation workers affected by higher fuel costs.
The declaration follows calls from lawmakers who warned of worsening conditions for households. Several senators had urged Marcos to recognize what they described as an “emergency-level” hardship as energy costs climbed.
Asia remains highly dependent on shipments through the Strait of Hormuz, with nearly 90 percent of oil and gas passing through the route last year bound for the region.
The move comes as global energy markets remain under big pressure following the US-Israel war with Iran and the disruption of shipping through the Strait of Hormuz, a critical route for oil and gas. The country, which imports about 98 percent of its oil from the Gulf, has seen fuel prices surge sharply since fighting began on February 28. Prices for diesel and petrol have now more than doubled compared to pre-war levels.
Marcos said the order was necessary due to the “imminent danger posed upon the availability and stability” of the nation’s energy supply.
The declaration gives the government expanded authority to manage resources and stabilize the situation, and it will remain in effect for one year unless lifted earlier.
Officials say the government can now directly procure fuel and petroleum products to ensure adequate supply. A national committee has also been established to oversee distribution of essential goods, including fuel, food, and medicine, as conditions continue to shift.
Energy Secretary Sharon Garin said earlier this week that the country has approximately 45 days of fuel reserves remaining. She added that the Philippines would “temporarily” rely more on coal-fired power generation as costs for liquefied natural gas continue to rise.
The government has already taken steps to reduce fuel consumption, including cutting some ferry services and implementing a four-day work week for civil servants. Subsidies have also been provided to transportation workers affected by higher fuel costs.
The declaration follows calls from lawmakers who warned of worsening conditions for households. Several senators had urged Marcos to recognize what they described as an “emergency-level” hardship as energy costs climbed.
Asia remains highly dependent on shipments through the Strait of Hormuz, with nearly 90 percent of oil and gas passing through the route last year bound for the region.
