2026-03-25
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This is Andrew Peach on the way.
The impact of the war in the Middle East on prices in the Philippines, Slovenia, Kenya and Australia.
Also today, how traders bet hundreds of millions of dollars on falling oil prices just before President Trump called off strikes
on the energy infrastructure in Iran.
And a row over the cost of tickets to see the World Cup.
We'll start, though, in the Philippines, where the government has declared a national energy emergency.
The president, Ferdinand Marcos Jr. Says supply in the country is in imminent danger,
with fuel prices continuing to surge across the world because of the war in the Middle East.
Soranjana Tiwari spoke to us from a petrol station in the capital, Manila.
The price of diesel and petrol is more than double now.
And there's really few nations that are more exposed to the disruption to oil supplies.
So what does the executive order mean?
Well, it allows the government to oversee the orderly distribution of fuel, food, medicine and other essential goods.
There were some fears about hoarding of food supplies, for example.
And this means that the government can have a bit more control.
It also means that the government can buy fuel.
And petroleum products to try and shore up supplies.
You know, the Philippines is still a developing economy, although it is doing relatively well.
But they still don't have the storage facilities that a more developed economy might have when it comes to fuel.