With no clear signs that the Middle East conflict is abating, oil prices are skyrocketing almost as fast as a Tomahawk missile.
But the optimistic among us would always look for the silver lining.
A positive offshoot in this global imbroglio is that consumers of oil products will be looking out for alternatives to traditional internal combustion engine vehicles or those that guzzle gasoline or diesel. Already, electric vehicles (EVs) are giving gas-fed cars a run for their money.
At the outset, the government has enacted Republic Act (RA) 11697, or the Electric Vehicle Industry Development Act in 2022, to give incentives and tax exemptions that encourage the use of EVs nationwide, with the aim of making 50 percent of vehicles on the road electric by 2040.
With the legislative push, EV sales have thus risen significantly. Reports show that sales of four-wheel EVs reached 3,880 units in 2024, as compared to only 1,028 in 2023, or an increase of more than 200 percent. Of these, 75 percent were battery electric vehicles, followed by hybrid electric vehicles at 23 percent and plug-in hybrid vehicles at two percent. By 2025, EVs accounted for around six percent of total vehicle sales in the country.
In support of the EV surge, the Department of Energy is meanwhile campaigning for the installation of charging stations nationwide. As of mid-2025, there have been almost 1,000 active EV charging facilities including AC, DC and battery-swapping stations. By 2028, the government hopes to widen the support infrastructure by opening 7,000 charging points.
Here at home, companies like Ken, Corominas and Yoo Taxis have begun substituting traditional gasoline-fed units with hybrid ones. Earlier, GSM Taxi had started to deploy 600 EV taxicabs in Metro Cebu’s streets, a subject of ongoing concerns that are outside of their being electricity-driven.
With the present oil price crunch, expect more local taxi companies to change their old units into EVs in the coming days. Not only will the move be more economically feasible, but it will also win over passengers who prefer taxi units that are not only shiny and new but electrically powered as well.
The preference is understandably more than just a vogue. People have generally become more environmentally conscious of climate change, especially with the spate of natural calamities that Cebu has had in recent years.
First, EVs produce zero tailpipe smoke emissions. Even if their sources of charging electricity may not be entirely emission-free, the carbon footprint of EVs is undoubtedly still significantly smaller. As more renewable energy sources such as solar and wind power become available, the emissions associated with charging EVs will be further reduced.
Lower levels of emissions that carry harmful chemicals and particulate matter mean less air pollution. By reducing vehicular emissions, EVs contribute to improving the people’s health and quality of life. Their quieter operation reduces noise pollution, especially in urban areas. EVs can also be a part of Cebu’s smart city initiatives that can help facilitate sustainable urban planning.
Finally, EVs reduce over-reliance on imported oil, thereby promoting energy independence. By utilizing various energy sources including alternative renewables, EVs help the country save its precious foreign exchange.
Given the volatile prices of petroleum products and the growing number of more affordable EV models that are being introduced in the market, the overall transition from traditional vehicles to electric ones will be definitely something to watch out for.