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Philippines Declares Energy Emergency, Warns Fuel Could Run Out

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Rising Import Bill
  • Southeast Asian energy ministers met in Manila on October 6, 2026 to discuss regional energy security amid the U.S.–Israeli war against Iran.
  • Renewable energy, electric vehicles and the ASEAN Power Grid were emphasized to cut reliance on imported fuels.
  • ASEAN imports over half its refinery crude from the Middle East at $100 a barrel.
  • IEA estimates region’s import bill could rise from $80 billion in 2024 to $245 billion by 2035.
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