The Philippines faces an escalating energy crisis as diesel prices surge to record highs, doubling since the start of the Iran conflict to 150 pesos ($2.49) per litre. Jeepney driver Piolito Salgan, who has worked Manila's streets for 27 years, says his daily earnings have plummeted by nearly half to 900 pesos, forcing him to consider abandoning his livelihood.

Unlike regional peers, Manila lacks price controls or subsidies, leaving consumers exposed to volatile global markets. The country imports nearly all its oil from the Middle East and has declared a national energy emergency. President Ferdinand Marcos Jr's administration has purchased Russian oil for the first time in five years and implemented rationing measures that economists warn could further slow growth, which already fell to just 4.4 per cent last year.

The crisis has reignited debate over Manila's energy security strategy. While some advocate nationalizing the oil industry or state ownership of refineries, others push for dialogue with China on disputed energy resources in the South China Sea. The government's failure to diversify fuel sources or develop domestic production has left the economy vulnerable to international shocks, with nearly 10 per cent of jeepney drivers already off the roads.