Senator Escudero Calls for DOE Contingency Plan Amid Middle East Tensions
Senator Francis "Chiz" Escudero, on March 3, 2026, has urgently called on the Department of Energy (DOE) to establish a comprehensive contingency plan to address a potential surge in petroleum product prices. This move aims to protect consumers, drivers, and local industries that heavily rely on oil, as escalating tensions in the Middle East threaten global supply stability.
Warning of Economic Impact
Escudero emphasized that any further instability in the region could trigger significant disruptions in global oil supply, which would severely impact the Philippine economy. The country imports 99 percent of its oil requirements, making it highly vulnerable to such crises. "Hindi na bago sa atin ang ganitong krisis kaya dapat handa ang bansa bago pa man lumala ang sitwasyon," Escudero stated, urging the DOE to develop clear, actionable measures to ensure adequate supply, stabilize local markets, and shield consumers from sudden price spikes.
Proactive Planning and Recent Price Hikes
The senator stressed that proactive planning is essential given the volatility of the global energy landscape. "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," he added. Last week, even before the Middle East tensions erupted, 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, fears are mounting that pump prices could be adjusted significantly in the coming days.
Appeal for Cooperation and Government Measures
Escudero appealed to local industry players and the broader private sector to cooperate with government efforts by exercising prudence, transparency, and social responsibility. 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. Additionally, he 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," he stressed.
International Coordination and Transparency
At the same time, Escudero urged the national government to maintain close coordination with international partners and continuously assess risks to ensure timely interventions. He warned that any escalation could have immediate repercussions on shipping routes, supply chains, and global commodity prices. 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," Escudero concluded.
