Philippine President Ferdinand Marcos Jr. declared a state of national energy emergency on Wednesday. The directive follows the outbreak of the US-Israel war with Iran on February 28, 2026. The ongoing conflict has effectively closed the Strait of Hormuz. Local diesel and petrol prices in the Philippines more than doubled as the vital global shipping artery shut down.
The Southeast Asian nation imports 98% of its oil from the Middle East. It is highly vulnerable to the sudden supply shock.
Marcos addressed the public after signing Executive Order 110. He stated the government is actively securing an additional one million barrels of oil. The new inventory will supplement the country’s current 45-day national reserve.
“We will have a flow of oil,” Marcos said in his televised address. “Not just one delivery, not two deliveries, but a flow of oil-related products.”
#PhilippinesEnergyCrisis | President Ferdinand Marcos Jr declares national energy emergency to address supply issues pic.twitter.com/4TTfkib8Rv
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The emergency declaration remains in effect for one year. It grants the government sweeping powers to bypass standard procurement laws. State officials can now make advance payments exceeding 15% to lock in energy contracts. The order also allows the government to legally crack down on local hoarding and price manipulation.
Marcos will chair UPLIFT. The newly formed contingency committee is tasked with overseeing the orderly distribution of fuel, food, and medicine across the archipelago.
The Department of Budget and Management approved the immediate release of ₱20 billion to the Department of Energy. The funds are strictly allocated to purchase diesel, gasoline, and liquid petroleum gas.
Manila is actively exploring oil imports from non-traditional and heavily sanctioned suppliers to secure basic inventory. The government is looking at Russia as a primary source. Philippine officials are simultaneously negotiating with Washington to secure allied sanction exemptions.