Marcos Ensures Oil Supply in Philippines Energy Crisis

Photo courtesy of BBC

The Philippines is in a state of national energy emergency as President Ferdinand Marcos seeks new oil sources due to the Iran conflict. In a televised address, Marcos announced the procurement of one million barrels of oil to bolster a 45-day supply. The country's reliance on the Gulf for 98% of its oil has made it vulnerable, with local fuel prices doubling since February 28.

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The US-Israel war with Iran and the closure of the Strait of Hormuz have disrupted global oil supplies, causing shortages and surging prices. Declared on Tuesday, the energy emergency allows the Philippine government to implement measures for energy stability and economic protection. Discussions with the US aim to secure exemptions for importing oil from sanctioned nations, highlighting the Philippines' strategic relationship with the US.

A committee has been established to ensure the distribution of essential goods under the emergency order. The government now holds the power to purchase fuel directly, with the emergency status lasting one year unless altered by presidential decision. This move follows appeals from senators addressing the dire impacts on families due to escalating oil costs.

Responses to the emergency declaration are mixed. Labor groups, like Kilusang Mayo Uno, criticize the government for prior complacency, alleging that anti-worker provisions in the order limit protest rights. In contrast, business figures such as Manuel V. Pangilinan support the measures, asserting the need for comprehensive options to navigate the crisis.

Upcoming transport strikes reflect growing discontent over fuel prices and governmental handling of the situation. Demands for reforms include scrapping fuel taxes and increasing wages. The government has introduced subsidies, adjusted public services, and temporarily shifted energy reliance to coal-fired plants to manage fuel shortages.

Looking forward, Energy Secretary Sharon Garin mentioned that the nation’s fuel reserves are currently stable for 45 days. Increased dependence on coal might continue due to steep liquefied natural gas costs. Given Asia's significant reliance on the Strait of Hormuz, the blockade poses sustained risks to energy supplies in the region, reported BBC.

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  Adapted by ASEAN Now · BBC · 25 Mar 2026