Philippines President Marcos Jr declares energy emergency over Middle East crisis, citing risks to fuel supply, inflation, and economic stability

Philippine President Ferdinand Marcos Jr has declared a state of national energy emergency in response to the ongoing Middle East crisis.

The Philippines energy emergency declaration was announced on Tuesday amid rising global oil prices and increasing uncertainty in international energy markets.

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According to the government, the move is aimed at preventing disruptions to fuel supply and protecting the country’s economy from external shocks.

Marcos said the crisis has created “imminent danger” to national energy security due to volatility in global oil prices and supply chain disruptions.

He explained that a special committee has been set up to oversee the distribution of essential goods, including fuel, food, medicine, and agricultural products.

The executive order grants authorities expanded powers to ensure adequate fuel supply and stability in domestic markets.

It also allows the government to procure petroleum products more quickly and make advance payments where necessary to secure deliveries.

Energy officials revealed that the country currently holds limited fuel reserves, raising concerns about potential shortages if disruptions continue.

The administration also plans to build buffer stock through additional oil imports from international suppliers.

Officials warned that continued instability in global markets could further impact inflation, currency stability, and economic growth.

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The declaration will remain in effect for one year as the government implements measures to stabilize energy supply and reduce economic pressure.