The Philippines has declared a national energy emergency amid the uncertainty in global energy markets.
It’s more exposed to surging oil prices and tightening fuel supply because of the Iran war compared to its Southeast Asian peers. @haslindatv explains https://t.co/pdoIkRb05c pic.twitter.com/2WMnexAoXe
— Bloomberg (@business) March 25, 2026
The Philippines just threw up the red flag on energy because the Middle East conflict has gummed up oil markets and prices. Nobody in the mainstream is connecting it but this isn’t some local hiccup it’s a dress rehearsal for what happens when global supply chains break and countries run out of cheap fuel. This emergency order lets Marcos grab power to secure, ration and import oil any way he can which tells you how bad the situation already is. If this doesn’t wake people up that energy security is no longer a theoretical problem but a daily pain in the ass nothing will.
Governments Declare Emergency Energy Policies in Response to Iran War
Governments and companies are sounding alarms about energy market disruptions due to the Iran war. The Philippines declared a national energy emergency yesterday amid plans for a transport workers’ strike. The CEO of United Airlines said it could hike fares by 20 percent if high jet fuel prices persist. Though oil-importing Asia faces many of the most severe energy strains, new data this week that pointed to slowing business activity in the United States, the Eurozone, and the United Kingdom (UK) suggest the war is affecting economies worldwide. Average U.S. prices at the pump for regular gasoline have risen one dollar over the past month to $3.98 per gallon, according to AAA.
How governments are responding. The Philippines’ energy emergency authorizes the government to take extraordinary steps to procure oil imports, and the country is in talks with the United States about obtaining permission to purchase oil from U.S.-sanctioned countries. Slovenia and Sri Lanka have introduced fuel rationing, while countries including South Korea are encouraging voluntary fuel conservation.
Global energy crisis deepens; efforts to plug supply gap fall short, industry executives warn
United Airlines on Tuesday said it may have to raise ticket prices by up to 20%. The Philippines declared a national energy emergency. The acute energy supply shock now hitting Asia, the region most heavily reliant on Middle East supplies, will spread to Europe in April, oil executives and energy ministers said this week at the annual CERAWeek conference in Houston, the U.S. energy capital.
In Asia, countries are taking measures to reduce energy consumption including implementing four-day work weeks and asking citizens to limit travel and use stairs rather than elevators.