Senator Francis “Chiz” Escudero on Tuesday, March 3, urged the Department of Energy (DOE) to put in place a mechanism that would help cushion the possible impact of the Middle East tension on the prices of petroleum products in the country.

Escudero pointed this out as the escalating tension in the Middle East is expected to result in a surge in the prices of petroleum products, saying it is imperative for the government to protect consumers, drivers and local industries heavily dependent on oil. 

The senator said any further instability in the region could trigger significant disruptions in global supply and will have serious impact on the Philippine economy.

He pointed out, the Philippines imports 99 percent of its oil requirements, thus, the need for a comprehensive contingency plan.

“This kind of crisis is nothing new to us, so the country must be prepared before the situation worsens,” he said.

He said it is imperative for the DOE to lay out clear, doable measures that would ensure adequate supply, stabilize local markets, and protect consumers from sudden price hikes.

Also, given the volatility of the global energy landscape, proactive planning is essential.

“It is important that we prepare well to ensure that our countrymen have reliable protection when the unrest in the Middle East worsens,” he stressed.

At the same time, Escudero appealed to local industry players and the broader private sector to cooperate with government efforts by exercising social responsibility, prudence and transparency.

While businesses operate within market realities, the lawmaker reminded that extraordinary global conditions require a heightened sense of public duty to prevent undue burden on Filipino households and industries.

Moreover, Escudero said the Department of Trade and Industry (DTI) should 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.

At the same time, he said the national government should maintain close coordination with international partners and continuously assess risks to ensure timely interventions.

He warned any escalation can have immediate repercussions on shipping routes, supply chains, and global commodity prices.

“We cannot control global events but we can control how ready we are to face them,” Escudero said.