Manila: Malaca±ang on Monday said efforts to secure safe passage for Philippine-bound vessels through the Strait of Hormuz are critical to ensuring uninterrupted fuel supply, even as it signaled openness to proposals such as temporary fuel purchase limits to curb hoarding.

According to Philippines News Agency, Palace Press Officer Claire Castro stated that discussions with Iran are concentrated on maintaining the continuous flow of oil and other essential goods amid global supply disruptions. Iran has assured the Philippines of the 'safe, unhindered and expeditious' passage of Philippine-flagged vessels, including those carrying energy supplies and manned by Filipino seafarers, through the Strait of Hormuz.

The Strait of Hormuz is a crucial maritime route that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, facilitating around 20 percent of the world's oil shipments. Castro also clarified that the negotiations with Tehran would not impact Manila's longstanding alliance with the United States.

'Wala po tayong nakikitang magiging isyu sa ating kaibigan na bansa na US dahil alam naman po nila ang sitwasyon ngayon (We don't see any issue from our ally, the US, because they understand the situation),' she remarked.

Amid uncertainties in global supply, the Palace mentioned that proposals, such as imposing temporary limits on fuel purchases to prevent hoarding, are under consideration. 'Lahat po ng suggestion ay maaari pong ikonsidera ng administrasyon (All suggestions may be considered by the administration),' Castro noted, highlighting that the issue would be discussed with the Department of Energy.

The Philippines is among the nations impacted by the oil price shock resulting from tensions in the Middle East, including disruptions in the Strait of Hormuz. President Ferdinand R. Marcos Jr. has declared a national energy emergency, with the government implementing various measures to stabilize supply and alleviate the impact of escalating fuel prices.