President Ferdinand R. Marcos Jr. reaffirmed the government’s commitment to shielding the Filipino people from the impact of fluctuating global oil prices, announcing that the administration is actively developing new subsidy frameworks and diversifying energy sources to ensure economic resilience.
Speaking to the press following an inspection of newly installed prefabricated classrooms in Bataan, the President emphasized that while the unpredictable nature of the global oil market complicates long-term planning, the government remains agile in its response.
“We are trying to find different methods to provide subsidies and assistance,” President Marcos stated. “The problem is that oil prices are very volatile and difficult to anticipate. We are still adjusting our strategies to meet these challenges.”
The Chief Executive moved to ease public concern regarding the availability of essential commodities. He confirmed that the national inventory for both fuel and food remains at healthy levels, effectively “softening the blow” of international market pressures.
“As much as possible, I ask the public not to worry. We are securing our supplies of oil and food. So far, our stocks are sufficient,” the President assured.
To reduce the nation’s vulnerability to traditional market shocks, President Marcos highlighted a two-pronged approach involving source diversification and strict austerity:
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Alternative Sourcing: The government is exploring oil suppliers beyond the Middle East to stabilize domestic costs.
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Renewable Energy: Accelerating the transition to renewable energy remains a priority to decrease reliance on coal and fossil fuels.
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Government Austerity: All government agencies have been directed to implement energy-saving measures, including a mandate to reduce consumption by at least 10%.
Recognizing the vital role of the transport sector, especially during the upcoming Holy Week, the President noted that while fare hikes have been deferred, assistance for drivers and operators continues. The goal is to ensure that transport services remain uninterrupted so that Filipino families can travel safely to reunite with loved ones.
“We want to ensure that trips are not reduced. This way, every family can celebrate the Holy Week together,” President Marcos said.
The administration continues to monitor global economic indicators to refine its intervention programs and ensure that the most vulnerable sectors receive timely support.
