The moment the USA and Israel attacked Iran, it was a foregone conclusion that oil prices will go through the roof, so to speak. The closure of the Strait of Hormuz means there will be little or no oil and natural gas transported, and that will spark a looming energy shortage. Fuel prices are now climbing and will hit record highs.

This calls to mind a similar situation in the early 1970s, when the fourth Arab-Israeli war erupted. An oil embargo by the Arab-dominated OPEC triggered widespread shortages in oil products. If I remember correctly, gasoline prices went from ₱0.20 to ₱20 overnight, causing widespread panic and long lines of vehicles at gasoline stations. Fuel rationing was resorted to by the Marcos 1.0 administration due to fuel shortages. I was also swept up in the panic and lined up patiently at the gasoline pumps, since I was driving a gas guzzler during that time. I even had to resort to asking a car mechanic to close off two of the four barrels feeding gasoline to my car engine, which effectively halved my fuel consumption.

It is ironic that it should happen again during this Marcos 2.0 administration and the ensuing economic chaos may lead to destabilization at a time when the country is grappling with massive corruption with no end in sight as to the fate of the perpetrators.

The country may have low fuel reserves, and with no end in sight to this war, we will definitely have large price increases in transportation, food and almost everything else due to the ripple effects of high transport costs. Our jeepney drivers are badly hit by the larger increase in diesel fuel, and without subsidies and government support, they may stop operations leaving many commuters stranded.

So, what are ordinary citizens supposed to do? With fuel shortages, many will resort to walking when going shorter distances, organize car pools, ride bicycles or just stay put. Walking and cycling should be encouraged since it not only is economical and bypasses the fuel problem, but they are also beneficial to our health, stimulating our circulation with exercise and will lead to weight reduction and fitter bodies.

Many have noticed a sudden decrease in the number of vehicles traversing the metropolis. Driving around for fun is no longer an option. Each trip must be carefully planned to maximize fuel. But expect an increase in the number of electric vehicles plying the roads with electric car dealers enjoying brisk sales.

With the fuel shortage comes an increase in electricity prices, since majority of energy plants still run on petroleum products. This will further strain our economy with many companies also increasing their prices due to increased production costs.

Charging electric vehicles will likewise cost more with the increased electricity costs. If you also have a solar energy system at home, then charging your EV will be free courtesy of the sun (only if the skies cooperate and are clear letting the sun shine to power the panels).

There is talk of temporarily suspending or reducing the fuel excise taxes as well as the Value Added Tax (VAT) to cushion the impact of the massive price increases. This will hopefully be done ASAP to prevent spiraling of fuel prices with the consequent cascading effect on food items due to increased production and transport costs. Otherwise, the Marcos 2.0 administration may be in for rough sailing due to widespread hunger and loss of jobs.

When these taxes are reduced, the government will certainly feel the pinch with loss of tax income. But considering the billions/trillions lost to corruption, this may be an indication to trim graft-laden transactions by not allocating unprogrammed funds meant for kickbacks.

It is likewise time to start community gardens that will produce vegetables for local consumption, with no associated transport costs. A health bonus is the consumption of fresh vegetables and fruits harvested from home gardens.

With the majority of our population living in poverty/near poverty, we can expect more widespread hunger and unrest. With budgets already stretched thin, many will resort to eating less and not getting essential nutrients, especially the very young children, which will drive the malnutrition rate up even more.

I hope we will see the resurgence of community pantries like what happened during the pandemic to tide our people over this current crisis. During the 2022 election season, we had many citizen groups organizing food drives and distributing food to people in need. We hope to see another initiative do the same during this time of massive social disruption.

We may not be able to control world events like this that threaten the social fabric of our society, but we can still work on alleviating its ill effects on our fellow citizens.