Manila, Feb. 2 -- Senator Sherwin Gatchalian on Monday stressed the need to safeguard the Philippines' energy security amid external supply risks following continued pressure on fuel and electricity prices as political unrest in Iran roils global oil markets.

In his proposed Senate Resolution No. 278, Gatchalian said the situation "requires enhanced reporting, updated inventory assessments, contingency planning, and supply-diversification measures to mitigate domestic impacts."

Although the Philippines does not import Iranian crude due to international sanctions, Gatchalian said instability in Iran can still push up global oil prices because the petroleum market "operates as an interconnected global system where disruptions in one major...