MANILA – Senator Win Gatchalian filed a resolution seeking a Senate inquiry into the potential effects of political unrest in Iran on global oil prices and supply, emphasizing the need to protect the Philippines’ energy security.

Under Proposed Senate Resolution 278, Gatchalian noted that while the Philippines does not import Iranian crude due to sanctions, instability in the Middle Eastern nation can still push up global oil prices, as disruptions in a major producer influence benchmark rates worldwide.

“The recent increase in domestic oil prices has been partly linked to geopolitical tensions in Iran,” Gatchalian said, adding that another round of oil price hikes is expected this week.

He stressed that sustained global price increases would directly affect electricity generation costs, particularly in off-grid and missionary areas served by diesel-powered plants under the National Power Corporation-Small Power Utilities Group (NPC-SPUG), potentially increasing subsidies and financial pressure.

“Being a net importer of petroleum, the Philippines is highly vulnerable to fluctuations in global crude prices, especially from the Middle East, which supplied 96.8% of our crude oil imports in 2024,” Gatchalian said, citing Department of Energy data.