The Philippines has declared a nationwide energy emergency. In doing so it becomes the first country in the world to take such a step in response to disruptions caused by the ongoing war in Iran, the BBC reports.

President Ferdinand Marcos Jr approved an executive order citing serious risks to the country’s energy availability and stability, as global supply chains are strained by the continuing conflict, albeit currently in a period of ceasefire, and the resulting restricted movement of tankers through the Strait of Hormuz.

The Southeast Asian nation is heavily dependent on imported fuel, sourcing around 98% of its oil from Gulf nations, and as a result, since the conflict began in late February, domestic fuel prices have surged sharply, with petrol and diesel costs more than doubling according to reports.

The emergency declaration grants tManila expanded powers to stabilise supplies in order to shield the broader economy. Because of this, authorities can now directly procure fuel and petroleum products, while a special committee has been tasked with the job of overseeing the wider distribution of essential goods - including fuel, food and medicines where needed.

Unless revised earlier, the measures could remain in force for up to a year.

The decision taken by the president follows mounting political and public pressure, with lawmakers urging the government to formally recognise the severity of the crisis as part of recognising the daily struggle of households hit by rising fuel costs.

Business leaders have taken a particularly supportive stance. According to the report, industrialist Manuel V Pangilinan said rising energy costs are already affecting operations across key sectors, adding that the government in Manila should retain the flexibility to respond to the crisis.

Protests are also intensifying, however, with transport unions and ride-hailing groups planning strike action to demand fuel price relief in addition to higher wages and the removal of fuel taxes.

As of March 25, officials have now indicated that fuel reserves are limited in the archipelago, with supplies estimated to last around 45 days.

In order to manage these shortages, the government is increasing turning back to coal-fired power generation as LNG becomes more and more expensive.