The Philippines has become the first country in the world to formally declare a state of national energy emergency in response to the Middle East conflict – and few nations are more exposed to the disruption to oil supplies.
The country imports 98% of its oil from the Gulf, and Filipino consumers have already endured multiple fuel price hikes over the past three weeks. The price of diesel and petrol has more than doubled since the war broke out.
In the Executive Order President Ferdinand Marcos Jr. cited an “imminent danger” to the country’s energy supply, saying the declaration would give the government the legal authority to impose measures to ensure energy stability and protect the broader economy.
Under the order, a committee has been formed to oversee the orderly distribution of fuel, food, medicines, and other essential goods. The government has also been empowered to directly purchase fuel and petroleum products to shore up supplies.
On Tuesday, the energy minister said the Philippines has roughly 45 days of fuel supply at current consumption levels. The order remains in force for one year, unless extended or lifted by the president.
