Philippines declares energy emergency amid Iran conflict
pre-market1 source ↓written by the desknot a recommendation
- at normal consumption
- 45 days
The Philippines has declared a national energy emergency due to the ongoing U.S.-Israeli war with Iran, which has disrupted global oil deliveries and increased prices. President Ferdinand Marcos Jr. emphasized the need for control over fuel prices and expedited imports from alternative suppliers like Russia. The country has fuel reserves for about 45 days at normal consumption levels.
This declaration highlights the growing energy crisis in Asia, prompting other nations like South Korea to implement energy-saving measures. ⚡
Not investment advice. For informational purposes only.