Philippines declares national energy emergency as Asia risks energy crisis amid Iran war

Key points

• A worker uses black tape to adjust the prices of their sign at a gasoline station as oil prices continue to rise, March 24, 2026, in Quezon City, Philippines.
• The Philippines has declared a national energy emergency in response to the U.S.-Israeli war with Iran, marking the latest sign of strain in Asia as the Middle East conflict stifles oil delivery and threatens an energy crisis.
• Philippine President Ferdinand Marcos Jr.
• said in part that the ongoing war threatened "the availability and stability of the country's energy supply." The emergency declaration allows the Philippine government to exert control over fuel prices and fast-track imports from alternative suppliers, such as Russia.
• Philippine authorities say they have enough fuel to last about 45 days at typical consumption levels.