President Ferdinand Marcos Jr. announced on Wednesday that the Philippine government is moving to capitalize on a reported two-week ceasefire between the United States and Iran, citing it as a critical window to stabilize the domestic energy market and secure additional fuel supplies.
The President expressed optimism that the temporary pause in hostilities will ease logistical bottlenecks in the Middle East, allowing delayed shipments to finally reach Philippine shores.
President Marcos emphasized that the administration will take “full advantage” of the reprieve to augment the country’s petroleum inventory. “We will take full advantage of the two weeks to increase our supply as much as possible,” President Marcos stated. “We are hoping and praying that the two weeks will extend further if talks go well.”
While acknowledging that a 14-day window may be too brief to trigger a significant drop in global pump prices, the President noted that a sustained extension could eventually lead to a more favorable price environment for Filipino consumers.
A key highlight of the President’s briefing was the confirmation of diplomatic arrangements ensuring the safety of maritime trade. The President revealed that specific understandings have been reached to protect vessels carrying essential cargo to the archipelago.
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Safe Passage: Iran has reportedly agreed to allow Philippine-flagged vessels and supplies destined for the Philippines to pass through contested waters.
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Clearing Backlogs: The truce provides an opportunity for shipments that were previously “on hold” due to security risks to resume their routes.
“The supplies we arranged while waiting for the situation to open up can hopefully now pass through,” the President explained in Filipino.
President Marcos joined the international community in calling for a long-term resolution to the conflict, noting that there is a collective desire among global leaders to see an end to the volatility.
“Everybody around the table is willing and desires for this conflict to end. Hopefully, all the parties will come together,” he added.
The Philippine government continues to monitor global oil markets closely, maintaining that the long-term stabilization of domestic fuel prices remains a top priority for the administration’s economic agenda.
