1 week ago
18
Upgrade to High-Speed Internet for only ₱1499/month!
Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.
Visit Suniway.ph to learn
MANILA, Philippines — President Ferdinand Marcos Jr. said the government is exploring more ways to extend subsidies and assistance to Filipinos as it grapples with the impact of volatile oil prices.
Speaking to reporters after inspecting newly installed prefabricated classrooms in Bataan on Thursday, March 19, Marcos said authorities are working on alternative methods to deliver aid to sectors most affected by rising fuel costs.
“We are trying to find different methods para makapagbigay ng subsidy, para makapagbigay ng tulong,” the president said.
(We are trying to find different methods to provide subsidies and extend assistance.)
He acknowledged that fluctuating oil prices continue to pose a challenge to policy planning.
“The problem is masyadong malikot ang presyo ng langis, hindi natin ma-anticipate. So we’re still adjusting right now,” he said.
(The problem is oil prices are too volatile, we can’t anticipate them. So we’re still adjusting right now.)
Despite this, Marcos assured the public that government measures have helped ease the burden, saying that oil and food supplies remain sufficient.
“As much as possible huwag pong mag-alala ang tao. We are securing the supplies of oil. We are securing the supplies of food. And so far, sapat naman ang ating mga supply, ang ating mga naka-stock na sa langis at saka sa pagkain,” the president said.
(As much as possible, people should not worry. We are securing the supply of oil. We are securing the supply of food. And so far, our supplies and stockpiles of both oil and food are sufficient.)
Marcos also pointed to ongoing efforts to diversify energy sources, including looking beyond traditional suppliers in the Middle East.
“Naghahanap tayo ng alternative sources ng langis,” he said.
(We are looking for alternative sources of oil.)
Marcos said assistance for key sectors, particularly transport workers, will continue even as the government holds off on fare increases.
He said that support is crucial amid the expected surge in travel during Holy Week.
The president also reiterated the implementation of austerity measures across government, including a directive to cut energy consumption by at least 10%, while pushing for a faster transition to renewable energy to reduce reliance on coal.
Meanwhile, Executive Secretary Ralph Recto said the administration would soon roll out fuel assistance for farmers and fishermen, sectors heavily dependent on oil.
“In this mechanized era, farmers rely on equipment from tractors to harvesters,” Recto said.
“And fishermen no longer paddle out to sea. They are brought there by boats powered by gas or diesel engines. That is why as much as 75% of the market price of fish represents fuel cost,” he added.
Recto said Marcos has ordered the release of a P10-billion fund to cushion the impact of rising fuel prices on these sectors.
“We know that fuel inflation can trigger food inflation. That is what we are trying to mitigate,” he said. “If fishermen are spending less time out in the sea because they are limited by their gas supply, then it results in lower catch, which in turn makes fish expensive.”
To ensure faster distribution of subsidies, the Land Transportation Franchising and Regulatory Board (LTFRB) will implement e-wallet transactions for transport workers.
LTFRB chairman Vigor Mendoza II said the digital system would allow beneficiaries to receive assistance more conveniently without long queues.
Analysts have warned that domestic pump prices could rise beyond initial projections as tensions escalate in the Middle East following the joint assault by the United States and Israel on Iran.
Energy prices have surged sharply since the attacks, with global benchmarks climbing amid fears of supply disruptions and damage to key energy infrastructure in the region.
This is expected to translate into higher fuel costs locally, further pressuring transport fares and food prices.
