Philippines to augment oil supply amid Mideast ceasefireSigns reading 'out of stock' are displayed at a gas station amid rising petrol prices in Manila on March 9, 2026. MANILA, Philippines — President Marcos yesterday expressed hope that the ceasefire in the Middle East would be longer as he vowed to take advantage of the two-week combat pause to augment the Philippines’ oil supply. Marcos expressed belief that all parties want an end to the war, which has triggered oil price hikes and supply chain disruptions. Because it’s so volatile, two weeks may not be enough time to bring the prices down,” the Chief Executive said. US and Iran recently forged a two-week ceasefire deal that would allow the safe passage of ships through the vital oil supply artery.

Source: Philippine Star April 08, 2026 16:16 UTC