Fuel Rationing In Philippines Proposed To Extend Supply Amid Middle East Conflict

(MENAFN- Khaleej Times) [Editor’s Note: Follow Khaleej Times live blog amid ** US-Israel-Iran war** for the latest regional developments.]

A Philippine senator has suggested rationing to extend the country’s fuel stock as the end of the war in the Middle East remains uncertain.

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Sherwin Gatchalian, chairperson of the Senate Proactive Response and Oversight for Timely and Effective Crisis Strategy (Protect) Committee, has directed the Philippine Department of Energy (DOE) to begin creating a fuel rationing plan in the likelihood of the war extending for months.

“As early as now, we should start rationing so we can extend it (the country’s oil supply) from 51 days to another 90 days or even longer, if possible,” he said.

In an emergency hearing, Gatchalian told his panel that the energy agency should also start formalising other short term measures to help Filipinos prepare for even bigger fuel shocks should efforts to end the US-Israel-Iran war fail.

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“The exorbitant pump prices being experienced during this energy crisis may necessitate the implementation of extraordinary measures to provide immediate relief to ordinary consumers and fuel-intensive economic sectors before the situation worsens,” the lawmaker also said in an earlier press briefing.

“Public interest requires the Department of Energy (DoE) to study the imposition of a temporary price cap or ceiling on petroleum products within their respective jurisdictions for the duration of the national energy emergency,” he added.

The Protect ad hoc panel was created to formulate protection measures against the effects of the Middle East war.

The Philippines is the first country in the world to declare a“State of National Energy Emergency” following the US-Israel joint attack on Iran on February 8. The declaration has led the Ferdinand Marcos Jr. government to dip into stand-by funds to distribute cash aids to transportation workers but refusing demands to suspend taxes on oil products to apply the brakes on galloping pump prices.

Fuel price tracker Gaswatch has pegged the nationwide average price of diesel per litre at P133.19 (Dh8.30) and petrol at P90.93 (Dh5.60). Prime retailers like Shell, Caltex and Petron may be at least P10 pesos more expensive per litre.

Fuel prices may again increases b double figures next week, early forecasts saying diesel by P12.50 to over P19 per litre and gasoline by P2.50 to P5 per litre.

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