Rowegie Abanto

Progressive groups hold a protest on the second day of a transport strike at a gasoline station in Philcoa, Quezon City, calling for government action on rising fuel prices and policies affecting drivers. Maria Tan, ABS-CBN News

Progressive groups hold a protest on the second day of a transport strike at a gasoline station in Philcoa, Quezon City, calling for government action on rising fuel prices and policies affecting drivers. The protest highlights growing concerns over increasing operating costs and the impact of economic pressures on the public transport sector.  Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE - PROTEST

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/177432401702220260320-oil-price-hike-protest-MT4.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Progressive groups hold a protest on the second day of a transport strike at a gasoline station in Philcoa, Quezon City, calling for government action on rising fuel prices and policies affecting drivers. <em>Maria Tan, ABS-CBN News</em></span></span></span></div><p>MANILA (<strong>UPDATE</strong>) — A Senate panel convened Tuesday to discuss measures to soften the blow of the ongoing global oil disruption to the Philippine economy and millions of Filipinos, with some senators saying the nation is already in a &quot;crisis.&quot;</p><p>At the hearing of the Senate Proactive Response and Oversight for Timely and Effective Crisis Strategy (Protect) Committee, Sen. Bam Aquino said the government should now declare a state of national emergency, a sentiment he said was shared by &quot;many&quot; of his senator-colleagues.</p><p>The Senate recently formed the Protect committee to come up with a comprehensive plan to respond to the energy disruption and soaring fuel prices brought about by the US-Israeli war in Iran, which still has <a href="https://www.abs-cbn.com/news/world/2026/3/23/trump-lifts-iran-threat-after-very-good-talks-on-ending-war-2009">no clear end in sight</a>.</p><div><a href="https://www.abs-cbn.com/news/business/2026/3/18/-pwedeng-mangyari-yan-claire-castro-on-state-of-emergency-wage-hike-0952">&#x27;Pwedeng mangyari &#x27;yan&#x27;: Claire Castro on declaration of state of emergency, wage hike</a></div><p>While Aquino acknowledged that aid distribution to public transport drivers was underway to help them recover lost income, he said the government needs a more extensive power to promptly respond to the crisis.</p><p>Under a state of national emergency, similar to one declared during the COVID crisis, the government can implement measures to regulate prices of essential goods and to ensure they have enough supply in the market, Aquino said.</p><p>Public markets, hospitals, and schools should be protected as the fuel crisis rages, he also said.</p><p>Economists warn that the <a href="https://www.abs-cbn.com/news/nation/2026/3/24/doe-diesel-may-go-up-to-p134-liter-this-week-gasoline-at-p112-1012">rising prices of fuel and gas</a> could trigger <a href="https://www.abs-cbn.com/news/business/2026/3/10/inflation-to-increase-rapidly-in-coming-months-if-mideast-war-continues-economist-1102">inflationary effect</a> in the coming months, and some senators stress that ordinary Filipinos already decry high prices of goods even before the war broke out.</p><div><a href="https://www.abs-cbn.com/news/business/2026/3/24/gov-t-won-t-say-there-is-a-crisis-to-prevent-panic-makati-business-club-0846">Gov&#x27;t won&#x27;t say there is a crisis to prevent panic: Makati Business Club</a></div><p>&quot;It is our minimum wage earners, the PUV drivers, our OFWs, and Filipino breadwinners who bear the heaviest burden of this crisis. Our response must go beyond providing aid, it must be about systemic protection,&quot; Sen. JV Ejercito said.</p><p>&quot;Hindi po natin alam hanggang kailan at hanggang saan ang patutunguhan ng nangyayaring krisis na ito, kaya dapat ganon din ang preparasyon na ginagawa ng mga ahensya,&quot; he said.</p><p>Ejercito added that the government should also offer assistance to middle-class income earners, whom he said form 40 percent of the population.</p><p>&quot;Sila rin po ang sumasalo at pumapasan sa bigat ng krisis na ito ngunit walang nakalaang ayuda para sa kanila.&quot;</p><p>Sen. Kiko Pangilinan meanwhile said the government should use the crisis to &quot;correct&quot; and strengthen systems dealing with food and energy sufficiency.</p><p>For Sen. Risa Hontiveros, Malacañang should now admit the gravity of the situation and lay down its plans should the crisis worsen.</p><p>&quot;Sa puntong ito, hindi na sapat ang monitoring at pakiusap kahit ang araw-araw na assurance mula sa Palasyo. Hindi naman sinusukat lamang ng krisis na ito ang tibay ng ekonomiya, ang sinusubok dito ang uri ng pamamahala,&quot; she said.</p><p>The Palace on Monday declined to portray the country&#x27;s oil problem as a crisis but rather called it a <a href="https://www.abs-cbn.com/news/nation/2026/3/23/ph-seeing-price-disruption-not-oil-crisis-palace-says-despite-forming-crisis-committee-1140">&quot;disruption&quot; in fuel prices</a>, even as it disclosed that it was finalizing a &quot;crisis management committee.&quot;</p><div><a href="https://www.abs-cbn.com/news/business/2026/3/23/peso-continues-to-depreciate-breaches-new-low-again-1751">Peso continues to depreciate, breaches new low again</a></div><div><br/></div><div><strong>&#x27;OPEN THE BOOKS OF OIL COMPANIES&#x27;</strong></div><div><br/></div><p>Mar Valbuena, chairman of the transport group Manibela, said that the possible declaration of a state of national emergency should also empower President Ferdinand Marcos Jr. to open the books of oil companies.</p><p>&quot;Yun sana ang maisip ng ating pangulo na hindi bomba ang bumabagsak sa atin kung hindi yung taas presyo nitong petrolyo,&quot; Valbuena told ANC.</p><p>&quot;Sinasabi walang krisis, totoo walang krisis sa langis, pero ang krisis na kinakaharap po natin yung mataas na presyo nito.&quot;</p><div><a href="https://www.abs-cbn.com/news/nation/2026/3/23/marcos-wants-oil-excise-tax-cut-enforced-immediately-palace-1055">Marcos wants oil excise tax cut ‘enforced immediately’ — Palace</a></div><p>Activists have accused some local oil firms of imposing unreasonable price hikes on petroleum products and called on the government to repeal the Oil Deregulation Law that allows them to implement price surges.</p><p>Energy Secretary Sharon Garin explained last week that the fuel industry is allowed to raise prices for old stocks, or apply replacement cost, to ensure companies can afford next batches of petroleum.</p><p>Garin however acknowledged that the government may need regulatory powers to keep pump prices reasonable during a crisis.</p><p>Emmanuel Leyco, chief economist at Credit Rating and Investors Services Philippines, on Tuesday noted that the government can take over the oil industry during a crisis.</p><p>According to <a href="https://lawphil.net/statutes/repacts/ra1998/ra_8479_1998.html">Section 14e of the Oil Deregulation Law</a>, the Department of Energy during times of national emergency may &quot;temporarily take over or direct the operation of any person or entity engaged in the [petroleum] Industry.&quot;</p><div><a href="https://www.abs-cbn.com/news/nation/2026/3/24/doe-philippine-fuel-supply-enough-as-middle-east-war-enters-fourth-week-0956">Philippines has enough fuel inventory despite continued soaring prices, says energy chief</a></div><div><br/></div><div><strong>RELATED VIDEOS</strong></div><div><strong><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/oAQz2fk-Xes?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/uMM5Ittv8iM?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></strong><br/></div>

<p>Sen. Bam Aquino said the government should now declare a state of national emergency, a sentiment he said was shared by "many" of his senator-colleagues.</p>

Sen. Bam Aquino said the government should now declare a state of national emergency, a sentiment he said was shared by "many" of his senator-colleagues.

Senators urge Marcos to declare state of national emergency, call oil problem a 'crisis'

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Senators urge Marcos to declare state of national emergency, call oil problem a 'crisis'

Rowegie Abanto,

ABS-CBN News

Published March 24, 2026 12:03 PM PHT

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Updated March 24, 2026 01:03 PM PHT

Read More:

Oil Shock

Middle East

Fuel

Energy

Ferdinand Marcos Jr.

Oil Crisis

Energy Crisis

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