DOE holds emergency meeting on Iran crisisA man checks the wrecakge after an Israeli air strike in the southern Beirut suburb of Haret Hreik on March 2, 2026. Despite supply disruptions in the Middle East, Abad noted that local oil firms have one to two months of inventory. Iran retaliated with a wave of airstrikes across the Middle East, targeting multiple countries that host US military bases, including Bahrain, Kuwait, Qatar and the United Arab Emirates. Transport group MANIBELA slammed the government, particularly the DOE, for what it called a failure to take effective measures to ease the impact of soaring fuel prices. Gatchalian is proposing that a certain percentage increase in fuel prices within a week should automatically trigger the release of fuel subsidies.

Source: Philippine Star March 02, 2026 16:02 UTC