The national energy emergency could run for two or three more months following the US–Iran peace deal, as commodity prices need time to stabilize, the Department of Energy (DoE) said in a report by BusinessWorld.
“Prices may not necessarily go down immediately, but they will stabilize,” a DoE official said. “I think, give or take, maybe another two or three months.” The statement comes as the Philippine government has been managing elevated fuel and electricity costs amid geopolitical tensions in the Middle East.
The peace agreement is expected to ease supply concerns and reduce volatility in global oil markets, but the DoE cautioned that the effects on domestic pump prices and power generation costs would not be immediate. The agency continues to monitor the situation and maintain contingency measures to ensure energy security.