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flag Philippines forms crisis committee amid Middle East tensions, no shortages, but fuel prices rise.

flag President Ferdinand Marcos Jr. has established a crisis committee to monitor fuel and food supplies amid Middle East tensions, stressing no supply shortage exists—only price volatility. flag While global oil prices rise, domestic supply remains stable, and the government is preparing cash aid, maintaining transport discounts, and reviewing tax relief. flag The President has not yet signed an emergency powers bill to cut fuel taxes, pending receipt, though it would only activate if oil averages $80/barrel for 30 days. flag A previously approved public transport fare hike was suspended, drawing criticism over constitutional concerns and unconfirmed Cabinet appointments. flag Transport groups continue to protest rising costs, and airlines have cut flights to Doha and Dubai.

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