Philippines Declares Energy Emergency as Fuel Prices Hit Historic Highs

President Ferdinand Marcos Jr. declared a national energy emergency on March 24 due to soaring fuel costs linked to the Middle East conflict. This move underscores the Philippines' vulnerability to global oil market fluctuations and the limited scope for government intervention under current deregulation policies. Monitoring will focus on how the government manages the crisis and whether new measures are introduced to stabilize prices or bolster energy resilience.