Ferdinand Marcos Promises Oil Supply as Philippines Declares Energy Emergency

Ferdinand Marcos has pledged to secure a steady “flow of oil” for the Philippines after declaring a state of national energy emergency in response to escalating global supply disruptions linked to the conflict involving Iran.

In a televised address, Marcos assured citizens that the government is working to procure one million barrels of oil to supplement existing reserves, which currently cover about 45 days of supply. He emphasised that the country would receive multiple deliveries to stabilise fuel availability.

The Philippines—heavily reliant on imports for roughly 98% of its oil, largely from the Gulf—has been hit hard by surging global prices. The crisis has been intensified by the conflict involving the United States, Israel, and Iran, alongside disruptions in the Strait of Hormuz, a vital artery for global energy shipments.

Under the emergency declaration, the government now has expanded powers to directly procure fuel, regulate distribution, and ensure the steady supply of essential goods such as food and medicine. A special committee has also been established to oversee these efforts. The measures are set to remain in effect for up to one year unless lifted earlier.

Philippine Ambassador to the US, Jose Manuel Romualdez, indicated that Manila is engaging with Washington to explore options for sourcing oil, including potential exemptions that would allow imports from US-sanctioned countries.

The announcement follows sharp increases in petrol and diesel prices, which have more than doubled since late February, placing significant strain on households and businesses.

Labour group Kilusang Mayo Uno (KMU) criticised the move, describing it as an acknowledgment of government shortcomings in managing the crisis. The group also raised concerns about provisions in the emergency order that could restrict labour actions, including strikes, warning these could limit workers’ ability to protest amid rising living costs.

At the same time, business leaders such as Manuel V. Pangilinan have backed the government’s expanded powers, noting that escalating energy costs are already affecting operations across key sectors.

Transport unions, including Piston, have announced a two-day strike, demanding measures such as fuel tax cuts, price controls, and wage increases. The planned action underscores growing public frustration over the economic impact of the crisis.

Meanwhile, Energy Secretary Sharon Garin said the country may temporarily rely more on coal-fired power plants to offset rising liquefied natural gas costs.