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The Philippines has declared a national energy emergency, becoming the first country to take such a step in response to the conflict in the Middle East. The news is reported by the BBC, via its Asia business correspondent, Suranjana Tewari.
The country remains particularly vulnerable to supply disruptions, as it imports around 98% of its oil from the Gulf region. Over the past three weeks, consumers have experienced consecutive fuel price increases, with oil and gasoline prices having more than doubled since the conflict began.
In the Executive Order, President Ferdinand Marcos Jr. states that the country faces an “imminent threat” to its energy supply. According to him, the declaration of emergency gives the government the legal basis to take measures aimed at energy stability and protecting the economy.
Authorities have set up a special committee to oversee the distribution of fuel, as well as essential goods such as food and medicine. The government has also been authorized to directly purchase petroleum products to guarantee supplies.
The energy minister said the Philippines has reserves that cover about 45 days of consumption at current levels. The order is expected to remain in effect for a period of one year, unless the president decides to extend or revoke it.
At the same time, the Israeli military announces that it has completed a wave of airstrikes on Lebanese territory, targeting gas stations that it says are linked to Hezbollah, according to Reuters reporting.
The Israel Defense Forces (IDF) declare that over the last 24 hours they have struck facilities belonging to the Al-Amana company, which they describe as being controlled by Hezbollah and part of its financial infrastructure.
According to the IDF, the gas stations hit in various areas of Lebanon have been rendered inoperable. The military adds that these facilities were used to refuel trucks transporting weapons and fighters.
Images published by Reuters show significant damage to some of the facilities. The Israeli military's statements have not been independently verified.
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