The Department of Energy (DOE) said the Asian Development Bank (ADB) has recognized the Philippines as one of the leading countries in the Asia-Pacific region in responding to global fuel market disruptions linked to tensions in the Middle East.
According to the DOE, the ADB noted that the Philippines implemented seven of the eight major policy measures considered important in improving energy security during the global fuel crisis.
Energy Secretary Sharon Garin said the recognition shows that the government acted quickly and strategically to address rising fuel prices and supply concerns.
Among the government’s key measures were fuel subsidies for jeepney and tricycle drivers, farmers, and fisherfolk; temporary suspension of excise taxes on liquefied petroleum gas and kerosene; staggered fuel price hikes coordinated with oil firms; stronger fuel reserve programs; tighter price monitoring; and increased investments in renewable energy and alternative energy sources.
The DOE also said the Philippine National Oil Company–Exploration Corp. helped secure additional fuel supplies to strengthen the country’s petroleum reserves. The government also promoted energy conservation, remote work arrangements, and transport demand management to help reduce fuel consumption during the crisis.
Garin said the Philippines remains vulnerable because it still relies heavily on imported fuel. She stressed that the long-term solution is to expand renewable energy, develop local energy sources, and improve regional energy cooperation.
She added that the ADB assessment confirms the country is moving in the right direction toward a more secure and resilient energy future.
