A worker uses black tape to adjust the prices on his sign as the digital board on top cannot accommodate the extra digits at a gas station as oil prices continue to rise, Tuesday, March 24, 2026, in Quezon City, Philippines. | Photo credit: AP
Philippine President Ferdinand Marcos Jr. On Tuesday (March 24, 2026) it declared a state of national energy emergency in response to the West Asian conflict and what it called an “imminent danger” it poses to the country’s energy supply.
Marcos said that a Committee has been formed to ensure the orderly movement, supply, distribution and availability of fuel, food, medicines, agricultural products and other essential goods.
Iran-Israel War Updates on March 24, 2026
In an executive order shared with the media, Mr. Marcos said the conflict had created uncertainty in global energy markets, severe supply chain disruptions and significant volatility and upward pressure on international oil prices, “posing a threat to the country’s energy security.”
“The declaration of a state of national energy emergency “will allow the government… to implement responsive and coordinated measures under existing laws to address the risks posed by disruptions to global energy supplies and the national economy,” it said.
The declaration, which will remain in effect for one year, authorizes the government to purchase the fuel and petroleum products necessary to ensure timely and sufficient supply and, if necessary, pay part of the contract amount in advance. Philippine Energy Secretary Sharon Garin said earlier on Tuesday (March 24, 2026) in a press conference that the country had about 45 days of fuel supply based on current consumption levels.
He said the government was working to acquire 1 million barrels of oil from countries in and outside Southeast Asia to build its buffer stock.
Published – March 24, 2026 06:27 pm IST
