President Ferdinand Marcos Jr. declared a 'state of national energy emergency' on Tuesday, March 24, due to the impact of the US-Israel war against Iran on the Philippines' oil supply. Through Executive Order No. 110, he also adopted UPLIFT to mitigate effects on the economy and citizens. It remains in place for one year unless altered by Marcos.
On Tuesday, March 24, President Ferdinand Marcos Jr. declared a 'state of national energy emergency' through Executive Order No. 110, based on Republic Act No. 7638. Energy Secretary Sharon Garin cited an 'imminent danger of critically low energy supply' from the US-Israel war against Iran, which began on February 28 and led to the near-closure of the Strait of Hormuz—the route for most Middle East oil to the Philippines. As a net petroleum importer, fuel prices have surged, with basic goods costs expected to rise. This prompted the adoption of UPLIFT, a 'whole-of-government' package for livelihoods, industry, food, and transport, chaired by Marcos with secretaries of energy, transport, social welfare, agriculture, finance, budget, and DepDev (formerly NEDA). Measures include fuel subsidies, commuter fare subsidies, Libreng Sakay, priority lanes, toll reductions, AICS assistance, support for farmers and fisherfolk, and price monitoring. Senators like Bam Aquino and Loren Legarda propose lowering or suspending the 12% VAT on fuel, though DepDev Secretary Arsenio Balisacan warned of GDP dropping to 3.5-4% if oil hits $200 per barrel for six months. Marcos said the government will defend the peso as much as possible amid its weakening.
