NEDA: Israel-Hamas conflict could impact fuel prices

As tensions continue to escalate in the Israel-Hamas conflict, the National Economic and Development Authority, or NEDA, on Tuesday called on the public to implement energy-saving measures.

During a Malacañang press briefing, NEDA Undersecretary Rosemarie Edillion warned that a further escalation of the Israel-Hamas conflict would likely impact fuel and energy prices.

"We need energy conservation measures, starting with those in government, and whatever else may be necessary because the immediate impact would be on fuel prices and then energy prices," Edillon said.

"Regarding energy, there are many power plants and transmission projects that are scheduled to be completed this year or will be launched next year. So, the instruction is to ensure that they stay on schedule. If that happens, then we can maintain that the impact on us will be limited," she said.

Edillon said both NEDA and the World Bank had conducted assessments of various scenarios related to the Israel-Hamas conflict.

The prevailing consensus is that the impact on the Philippines will likely be contained.

However, the NEDA official underscored that the government's primary focus remains on the safety and well-being of overseas Filipino workers.

"(But right) now, the consensus is that it will be contained, that's the general consensus. But in the event that it escalates, we're very clear about our priorities," she said.