President Ferdinand R. Marcos Jr. on Monday said the government has exhausted all available measures to cushion the impact of the national energy emergency on Filipinos, as the ongoing Gulf conflict continues to weigh on the domestic economy through higher fuel prices, inflation and supply disruptions.

In his 2026 State of the Nation Address (SoNA), Marcos devoted a significant portion of his speech to the economic consequences of the Middle East conflict, outlining both the government’s emergency interventions and its longer-term strategy to strengthen the country’s energy security.

“Ginawa natin ang lahat ng nararapat upang malunasan ang mga epekto ng krisis,” the President said. “Agarang kumilos ang buong pamahalaan upang tumulong sa mamamayan.”

Marcos said the government has allocated P600 billion for relief measures for the remainder of the year to help households and businesses cope with the prolonged energy crisis. To secure the country’s fuel supply, he said the administration diversified oil imports after disruptions in the Strait of Hormuz, maintaining roughly two months’ worth of fuel inventory by sourcing petroleum from Japan, South Korea, Oman, India, Russia and China.

The President also outlined a series of measures aimed at easing the burden on consumers.

These included negotiating more gradual fuel price adjustments in April and May, ordering successive fuel price rollbacks, suspending excise taxes on LPG and kerosene for three months, and directing power distributors to refund overcharges while allowing consumers to pay electricity bills in installments.

Beyond energy-related measures, Marcos said the government expanded rice distribution, KADIWA stores, emergency employment programs, transport subsidies and assistance to farmers. Financial institutions were likewise encouraged to grant loan moratoriums and reduce online transaction fees to provide additional relief during the crisis.

Looking beyond the immediate emergency, Marcos said strengthening the country’s energy security remains central to sustaining long-term economic growth.

He highlighted nearly 200 energy projects expected to deliver close to 10,000 megawatts of new generating capacity, more than 1,700 megawatts of energy storage, over 60 renewable energy facilities, the extension of the Malampaya gas service contract, new petroleum service contracts, hydrogen initiatives, and renewed interest in nuclear energy and rooftop solar through the proposed Sariling Kuryente Act.

“Perhaps it is time for us to revisit nuclear energy production,” he said. “We are confident in its capacity to reinforce our energy security and bring down the cost of electricity in our country.”

The President also linked the country’s long-term resilience to continued investments in infrastructure, agricultural modernization, manufacturing, foreign investment, electric vehicle production, artificial intelligence and expanded trade agreements, arguing that these initiatives would create jobs and improve the Philippines’ global competitiveness.

“Consistent with our clean energy drive, we have encouraged the adoption of electric vehicles,” Marcos said. “We have removed all tariffs on EVs until 2028.”

Marcos delivered the address as international institutions continue to warn that the Middle East conflict is weighing on both the global and Philippine economies through higher oil prices, with headline inflation settling at 6.4 percent as of June — nearly four times higher than the average 2025 print.

The International Monetary Fund projects Philippine economic growth of about 4.1 percent in 2026, while the World Bank expects only a modest recovery, saying stronger public investment and deeper structural reforms will be needed to sustain growth amid continued global uncertainty.