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Philippines Faces Energy Crisis With Closure of the Strait of Hormuz NextFin News

By  Breaking News  May 19, 2026, 2:19 a.m. ET

NextFin News

Hundreds of jeepney drivers gathered in front of fueling stations in Manila, voicing their frustration over soaring diesel prices. These drivers, who operate the country’s most common form of public transport, face increasingly unaffordable fuel costs, which are now significantly impacting daily life. Their protest not only called for immediate action but also decried the ongoing war in the Middle East, urging the U.S. to reconsider its military actions.

The situation has deteriorated since the U.S.-Israeli airstrikes on Iran in late February, which triggered the closure of the Strait of Hormuz, the vital conduit for Asian oil and liquefied natural gas. Asia has long been heavily dependent on the Middle East for its energy needs, with roughly 90% of the region's oil and 83% of its LNG passing through this critical waterway. The conflict has led to a sharp rise in energy costs and prompted countries, including the Philippines, to declare an energy emergency.

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