MANILA — Senator Bam Aquino has filed a resolution calling for a Senate investigation into how fluctuations in global oil prices are affecting key industries in the Philippines.

In Senate Resolution No. 337, Aquino asked the Senate Committees on Energy and Ways and Means to conduct an inquiry, in aid of legislation, on the effects of fuel price volatility amid rising tensions in the Middle East that could disrupt global oil supply.

The proposed inquiry aims to explore the creation of targeted fuel subsidy mechanisms for sectors considered vital to the economy, particularly those linked to food security, transportation, logistics, and delivery services.

Industries identified as highly vulnerable to fuel price hikes include agriculture and fisheries, logistics and freight transport, public transportation, delivery riders and motorcycle-based logistics workers, ride-hailing drivers, and food supply and distribution chains.

Aquino noted that the Philippines’ heavy reliance on imported petroleum products exposes the economy to global price movements, which can drive up the cost of transporting goods, running machinery, producing food, and delivering essential services.

“Sustained increases in fuel prices could exacerbate inflation, threaten food security, and reduce the incomes of workers, farmers, fisherfolk and micro-entrepreneurs who depend on fuel-intensive livelihoods,” Aquino pointed out.

Given the continuing uncertainties in the Middle East, Aquino said the government should consider establishing transparent and targeted fuel subsidy programs to shield essential sectors and workers from the impact of sudden fuel price spikes.

“Such measures may help stabilize the cost of food production, logistics, transportation, and delivery services, thereby protecting Filipino consumers from further increases in the prices of basic goods and services,” he stressed.

Aquino also earlier filed Senate Resolution No. 321 seeking urgent government measures to ensure the safety and possible repatriation of overseas Filipino workers and other Filipino nationals affected by the escalating conflict in the Middle East following the combined attack by the United States and Israel on Iran.

“The instability threatens to place Filipino lives and livelihoods at serious risk given the expanding geographic scope of armed engagements and airspace closures that have disrupted travel and daily life,” Aquino said.

He added that the government must ensure readiness for evacuation and repatriation efforts, citing past responses to crises in the Middle East that involved standby funds, inter-agency coordination, and rapid response systems.