Philippines Seeks Oil Law Review as High Prices Threaten Nation

“Out of stock” signs at a gas station in Manila on March 9. — “Out of stock” signs at a gas station in Manila on March 9.
Photographer: Jam Sta Rosa/AFP/Getty Images

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By Cliff Harvey Venzon and Ditas B Lopez

March 13, 2026 at 3:09 AM UTC

Updated on

March 13, 2026 at 8:32 AM UTC

The Philippines is looking to review a nearly 30-year old law that liberalized its oil industry, as the government aims to have a better grip on fuel prices that have shot higher due to the Iran war.

Energy Secretary Sharon Garin has backed proposals by some lawmakers to review a 1998 law that she said left the industry “totally unregulated,” threatening the import-dependent nation.