Senator Chiz Escudero called on the Department of Energy (DOE) to put in place a comprehensive contingency plan against potential surge in prices of petroleum products amid the escalating tension in the Middle East to protect consumers, drivers, and local industries heavily dependent on oil.
Escudero warned that any further instability in the region could trigger significant disruptions in global supply that will have serious impact on the Philippine economy, which imports 99 percent of its oil requirements.
“Hindi na bago sa atin ang ganitong krisis kaya dapat handa ang bansa bago pa man lumala ang sitwasyon,” the veteran legislator said, as he urged the Department of Energy (DOE) to lay out clear, actionable measures that would ensure adequate supply, stabilize local markets, and protect consumers from sudden price spikes.
According to the seasoned lawmaker, proactive planning is essential given the volatility of the global energy landscape.
“Mahalaga na ito ay ating mapaghandaan nang maayos.”
“Mahalaga na ito ay ating mapaghandaan nang maayos upang matiyak na ang ating mga kababayan ay may maasahang proteksyon kapag lumala ang kaguluhan sa Gitnang Silangan,” the senator said.
Even before tensions erupted in the Middle East, local oil companies announced a fresh round of price hikes starting March 3, with diesel increasing by as much as P1.20 per liter. With renewed conflict in the region, many fear that pump prices will be adjusted significantly in the coming days.
“Extraordinary global conditions require a heightened sense of public duty to prevent undue burden on Filipino households and industries.”
Escudero, however, appealed to local industry players and the broader private sector to cooperate with government efforts by exercising prudence, transparency, and social responsibility, as he noted that while businesses operate within market realities, extraordinary global conditions require a heightened sense of public duty to prevent undue burden on Filipino households and industries.
He further called on the Department of Trade and Industry (DTI) to be ready with calibrated price‑monitoring mechanisms and, if necessary, temporary price caps on essential goods should fuel‑driven inflation accelerate.
“The government must be prepared to cushion the impact on consumers, especially low‑income families who are most affected by rising costs,” Escudero stressed.
At the same time, he urged the national government to maintain close coordination with international partners and continuously assess risks to ensure timely interventions because any escalation could have immediate repercussions on shipping routes, supply chains, and global commodity prices.
Escudero added that transparency and regular communication from government agencies such as the DOE and DTI will be crucial in maintaining public confidence. Clear advisories, updated assessments, and early warnings will help citizens and businesses plan accordingly and avoid panic‑driven behavior in the market.
“We cannot control global events but we can control how ready we are to face them,” he concluded.
