Despite Philippine officials securing safe passage assurances through the Strait of Hormuz from Tehran, fuel prices in Metro Manila remained elevated on April 4 amid lingering effects of the Iran war—following President Marcos' March 24 national energy emergency declaration.
Fuel prices across Metro Manila stayed high on April 4, per Philstar.com's tracker, due to persistent global oil disruptions from the Iran war, even after officials obtained Tehran assurances for Philippine-flagged vessels, seafarers, and energy shipments via the Strait of Hormuz.
This follows President Ferdinand Marcos Jr.'s March 24 declaration of a national energy emergency (Executive Order No. 110), prompted by record pump prices that have driven up electricity rates, inflation, and eroded consumer spending, according to the Department of Energy (DOE).
At a March 24 Senate hearing, Energy Secretary Sharon Garin explained the government cannot control prices in the deregulated market under the 1998 Downstream Oil Industry Deregulation Act. Oil firms apply replacement cost accounting, adjusting based on current global rates regardless of prior inventory costs.
Garin noted at a March 30 press conference that international diesel demand is elevated and volatile. Unlike Thailand's subsidies, the Philippines targets aid to vulnerable sectors rather than imposing price caps.
