Benise Balaoing

Workers and various sectors hold a protest in solidarity with the ongoing transport strike at Philcoa, Quezon City on Marh 19, 2026.  Protesters decried the continuous increase in fuel costs, citing its impact on drivers, farmers, and ordinary Filipinos. The group called for stronger government action to regulate the prices of oil and basic commodities, specifically the scrapping of excise tax and value-added tax (VAT) on fuel amid rising oil prices. Maria Tan, ABS-CBN News

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OIL PRICE HIKE - PROTEST

ABS-CBN News

MANILA — Former Energy Secretary and current private sector representative to the Legislative-Executive Development Advisory Council (LEDAC) Rene Almendras said that even if the war in Iran ends soon, there will be no immediate impact on oil prices. In an interview with ANC, Almendras, who used to be Energy chief under the late Pres. Benigno Aquino III, said the Iran war has caused a massive disruption to the supply chain.&quot;The government view which we share, I personally share, is we need to be ready for up to the end of the year,&quot; he said.&quot;Even if the war is stopped today, tomorrow, that does not mean we will see everything normal in the next 30 days. Maybe it will take 60 days, maybe 90 days. First of all there&#x27;s over 500 tanker ships stuck either north of that curve in the Hormuz or below,&quot; he said.&quot;Our logistics, global oil logistics operations is not designed for a sudden surge. There&#x27;s gonna be a gridlock,&quot; he explained.&quot;Refineries have a limitation on how much fuel, how much crude oil they can take, that&#x27;s a function of storage capacity,&quot; he said.He also added that the energy crisis gripping the world is a learning opportunity for the Philippine government to create better &#x27;sustainability and survivability&#x27; policies.--ANC Headstart, 7 April 2026

Even if the war in Iran ends soon, there will be no immediate impact on oil prices, said former Energy chief Rene Almendras.

Even if the war in Iran ends soon, there will be no immediate impact on oil prices, said former Energy chief Rene Almendras.

Don't expect oil to normalize at once even if Mideast war stops today—ex Energy chief

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Don't expect oil to normalize at once even if Mideast war stops today—ex Energy chief

ABS-CBN News

Published April 07, 2026 06:23 PM PHT

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