The conflict in the Middle East has plunged the Philippines into an energy crisis. The government, for its part, has begun work on interventions to protect Filipinos – particularly those who are economically marginalized. Included among the bevy of proposals are price control mechanisms, supplementary budgets, and various transfer programs. This study draws attention to the fundamental issues of price controls and the immense risks of expanded deficit spending given the country’s fiscal position. The study argues that price controls will either result in shortages or cost taxpayers considerable amount of resources. Additionally, the study argues that the country likely does not have the fiscal slack necessary for a supplemental budget. Insisting upon either could potentially aggravate the existing crisis.