Philippines declares energy emergency due to threat to supplies from the Middle East
Kyiv • UNN
President Marcos declared a year-long state of emergency due to the threat to oil supplies. The government is introducing subsidies and payments to support vulnerable groups.
Philippine President Ferdinand Marcos Jr. has declared a state of energy emergency in the country. The reason was the threat to energy supplies amid the war in the Middle East and problems with passage through the Strait of Hormuz. This is reported by CNN, writes UNN.
Details
The president stated that there is an "imminent danger" to the stability and availability of energy supply for the country. The decision was made after a sharp escalation of the situation in energy markets, disruption of logistics, and rising global oil prices.
The state of emergency will be in effect for one year.
What measures are being introduced
The government has created a special committee that will monitor the availability and distribution of fuel, food, medicines, and other critical goods.
Among the announced measures:
- introduction of energy saving
- fuel subsidies
- support for reducing transport costs
- combating speculation, hoarding, and manipulation in the petroleum products market
The government also promised financial assistance for the most vulnerable groups. In particular, motorcycle taxi drivers and transport workers will receive 5,000 pesos each. Separate support programs have been announced for farmers, fishermen, and other workers dependent on fuel prices.