Energy Crisis Alert: Ferdinand Marcos Jr. Declares Emergency Over Middle East Tensions

The move comes amid rising global oil prices and growing instability in international energy markets, prompting the government to take urgent steps to prevent a potential crisis.

Marcos announced the formation of a special committee tasked with ensuring the smooth distribution and availability of essential resources nationwide. The committee will oversee the supply of fuel, food, medicines, agricultural goods, and other critical items.

In an executive order released to the media, the president explained that the decision was driven by disruptions linked to the Middle East crisis, which have triggered supply chain challenges, market volatility, and increased pressure on global oil prices—factors that threaten the country’s energy security.

He noted that the emergency declaration would allow the government to implement coordinated measures under existing laws to manage risks associated with global energy disruptions and their impact on the domestic economy.

The declaration, set to last for one year, grants authorities special powers to maintain adequate fuel supply across the country, including the ability to procure petroleum products and make advance payments to secure timely delivery.

Experts say the action is intended to prevent shortages and shield the economy from further shocks.

Earlier, Energy Secretary Sharon Garin disclosed that the country currently has about 45 days’ worth of fuel reserves based on current consumption levels. She added that efforts are ongoing to secure at least one million barrels of oil from both local and international suppliers to build additional reserves, though uncertainties remain due to market volatility.

The emergency status is also expected to help the government cut through bureaucratic delays and respond more swiftly to the economic fallout of the crisis.

Marcos further directed the finance ministry, working with the central bank, to closely monitor the impact of the crisis on the national currency, remittances, and the risk of depreciation.

Despite these measures, concerns have been raised about the government’s preparedness. Lawmakers have criticised what they describe as a lack of a coordinated response to rising fuel prices.

The country’s economic planning authorities have also warned that increasing fuel costs could push inflation to new highs and slow economic growth.

Meanwhile, public tension is rising, with transport unions, commuters, and consumer groups planning a two-day strike starting Thursday to protest fuel price hikes and what they see as delayed government action.

The situation underscores how global conflicts continue to impact domestic economies, as the Philippines prepares for possible economic challenges in the months ahead.