Manila, March 25 -- Philippines has declared a state of "national energy emergency" citing the ongoing war in West Asia, which has riddled the energy sector with massive volatility and instability, heavily threatening fuel supplies and market stability, President Ferdinand Marcos Jr. said on Tuesday.
In an executive order, Marcos warned of an "imminent danger" to the availability and stability of the country's energy supply, citing disruption in global markets as a result of the conflict.
The presidential declaration authorises the Department of Energy to take emergency measures, including making advance payments of up to 15% to secure fuel contracts and acting against hoarding or profiteering.
"The declaration. will enable the governmen...