Philippines Declares National Energy Emergency Following Iran Conflict and Global Fuel Price Surge

Key facts

• Philippine President Ferdinand Marcos declared a state of national energy emergency in response to the war in Iran and the effective closure of the Strait of Hormuz.
• The Philippines, which imports 98% of its oil from the Gulf, became the first country to declare an energy emergency after domestic fuel prices doubled since 28 February.
• The government will procure one million barrels of oil to supplement the current national stock, which is estimated to last for 45 days.
• The emergency declaration will remain in place for one year, granting the government legal authority to directly purchase petroleum products and oversee the distribution of fuel, food, and medicines.
• Philippine Ambassador to the United States (US) Jose Manuel Romualdez stated that Manila is coordinating with the US to secure exemptions for importing oil from sanctioned countries.
• Energy Secretary Sharon Garin announced that the country will temporarily increase reliance on coal-fired power plants to address the high costs of Liquefied Natural Gas (LNG).
• The government has implemented fuel-saving measures including a four-day work week for civil servants, reduced ferry services, and subsidies for transport drivers.