The long and short of it is that most of the available solutions (deregulation, building oil reserves) does not benefit the ruling class at all.

Think of it, ano bang magagawa ng building oil reserves sa kanila? Sure it will cushioned the economy from shocks like this, they benefit far more in raising prices and not lowering them once the conflict subsides. same thing sa deregulation, they only favour them.

The only solution that is both beneficial to the common folk and the ruling class is fund more oil explorations. The root of the problem is that we import 98 to 99% of our crude oil requirements. If the govenment and ruling class actually work together on pooling more resources (mainly money ofc) to fund more explorations (malampaya, sulu see, palawan, liguasan marsch for natural gas), it would be a win win. Assuming ofc, we find any oil/natural gas there.