MARIVELES, Bataan — During a press briefing on Thursday, March 19, President Ferdinand R. Marcos Jr. reassured the nation that the government is actively working to blunt the effects of rising international oil prices by securing the country’s fuel and food reserves.
The President noted that the administration is currently investigating ways to broaden subsidy programs for impacted sectors while keeping a close watch on the unpredictable global market. Regarding the difficulty of forecasting costs, Marcos stated, “The problem is masyadong malikot ang presyo ng langis, hindi natin ma-anticipate (that the price of oil is very volatile, we cannot fully anticipate) so we are still adjusting right now. But I think so far, kahit papaano (somehow), we will be able to soften the blow.”
President Marcos confirmed that national inventories of fuel and essential commodities remain stable, with various agencies focused on price management. He highlighted that work is ongoing to lower the cost of basic goods to ease the burden on Filipino families.
“We want to keep as much as possible, huwag pong mag-alala ang tao (people need not worry), we are securing the supplies of oil, we are securing the supplies for food. And so far, sapat naman ang ating mga supply (our supplies are sufficient),” Marcos said.
Acknowledging that external global factors drive energy costs, the President revealed that the Philippines is looking for alternative fuel suppliers to decrease its reliance on the Middle East. Furthermore, he pointed to the continued rollout of subsidies for transport workers to manage fare costs, especially with the upcoming Holy Week travel surge.
Ultimately, Marcos emphasized that the core objective of these interventions is the preservation of economic stability and Filipino jobs. “So, we are adjusting well. At ang talagang habol namin dito is to keep ‘yung hanapbuhay ng tao, ‘yung meron pa rin silang hanapbuhay (What we are really aiming for here is to protect people’s livelihoods, so that they still have a source of income),” he remarked, adding, “We have to accelerate all of this because of the oil crisis that’s happening.”| (PNA)
