National Energy Emergency Declared by Philippines

On March 24, 2026, Philippine President Ferdinand Marcos Jr. declared a state of national energy emergency in response to the escalating conflict in West Asia aka the Middle East. The declaration follows a surge in global oil prices and severe supply chain disruptions caused by the war involving Iran, Israel and the United States, which has effectively closed the Strait of Hormuz , a critical route for the Philippines’ energy imports..

Provisions of Emergency

1. The emergency status is set to remain in effect for one year.
2.  A special committee led by the President has been formed to oversee the orderly supply and distribution of fuel, food, medicines and other essential goods.
3. The government is authorised to directly purchase petroleum products and make advance payments of up to 15% to secure contracts.
4. To keep electricity costs down, the Department of Energy will temporarily ramp up output from coal fired power plants, which already provide nearly 60% of the country’s power.
5. Energy Secretary Sharon Garin reported the country has approximately 45 days of fuel supply left and is working to procure an additional 1 million barrels to build buffer stocks.

Economic and Social Impact of Emegency

1. Since the conflict broke out on February 28, the price of petrol and diesel in the Philippines has more than doubled.
2.  Transport unions and consumer groups have planned a two-day strike starting March 26 to protest the rising costs and what they describe as an inadequate government response.
3. The government has begun providing 5,000 pesos which is approx. $83 in aid to motorcycle taxi drivers and public transport workers, alongside free bus rides in selected cities.
4. The central bank and finance ministry are closely monitoring the impact on the Philippine peso and remittances from the 2.4 million Filipinos living in the Middle East
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