Potential fuel supply shortages are raising concerns across the Philippines’ nickel, steel, and cement sectors, as soaring energy prices strain operations. 

President Ferdinand Marcos Jr. declared a national energy emergency on March 24 due to disruptions in global oil supply caused by ongoing Middle East conflicts. Diesel prices in the Philippines have surged by over 80%, while gasoline prices rose more than 50%, among the highest increases globally. 

The nickel industry warned that some mines risk suspension due to rising costs and limited fuel reserves, while steel producers are implementing strict cost controls and efficiency measures. 

Although large-scale shutdowns are not expected for now, the industry remains under pressure as fuel supply stability becomes a key concern.