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Marcos: PH adjusting well to oil crisis, supply stable

Published Mar 19, 2026 01:05 pm
President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of PCO)
President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of PCO)

President Marcos assured the public that the Philippines is “adjusting well” to the global oil crisis triggered by the conflict in the Middle East, saying supplies of fuel and food remain stable.

The President made the remarks following an inspection of prefabricated classrooms and education programs in Mariveles, Bataan.

In an interview with reporters, the President said the public should not worry has the government will be able to “soften the blow.”

“So, we are adjusting well. Ang talagang habol namin dito is to keep ‘yung hanapbuhay ng tao, na mayroon silang pang-hanapbuhay (What we’re after is the people’s livelihood),” he said Thursday, March 19.

“So far… sapat naman ang ating mga supply, ang ating mga naka-stock na sa langis at saka sa pagkain (our supply and stock of oil and food are sufficient),” he added.

Despite global uncertainties, Marcos reiterated that the situation in the country remains manageable.

“So far… we are all right… normal pa naman lahat (so far, we are all right… everything is still normal),” he said.

The President said the government will continue monitoring developments and adjusting policies to protect livelihoods and keep the economy stable.

Alternative oil sources

Marcos said the government is now looking for alternative sources of oil as part of efforts to ensure a steady supply amid uncertainties in the Middle East.

“So, naghahanap tayo ng alternative sources ng langis… dahil kumukuha talaga tayo sa Middle East (We are looking for alternative sources of oil because we source from the Middle East),” he said.

He added that existing suppliers have committed to continue honoring contracts, particularly for petroleum-based products such as fertilizer.

Subsidies to cushion impact

The President said the government is expanding subsidies and assistance programs to help sectors affected by volatile oil prices.

“We are trying to find different methods para makapagbigay ng subsidy, para makapagbigay ng tulong (We are trying to find different methods to provide subsidies and assistance),” he said.

Marcos noted that transport workers continue to receive support, especially as fare hikes remain deferred.

He said additional assistance is being provided to ensure transport services continue, particularly with the expected surge in travel during Holy Week.

Focus on food prices

Marcos said the government is also focusing on keeping food prices stable, noting that more interventions are possible in the food sector.

“Kaya ang binabantayan na lang natin ngayon ang presyohan… naghahanap kami ng paraan pa para ibaba ang presyo ng pagkain (We are closely monitoring prices… we are looking for ways to lower food prices),” he said.

He stressed that while oil prices are largely beyond government control, ensuring adequate supply remains a priority.

Energy-saving measures

The President also said government agencies have been directed to cut energy consumption as part of broader efforts to manage the impact of the crisis.

“There’s a directive for all government institutions to reduce 10 percent of their energy expenditure,” he said.

He added that the government is accelerating the shift to renewable energy, particularly solar power, to reduce dependence on traditional energy sources.

Faster, stronger classrooms

Meanwhile, Marcos highlighted the use of prefabricated classrooms, saying the new design is more durable and faster to build.

He said the structures can withstand strong earthquakes and typhoon-force winds, making them more resilient for long-term use.

“It’s a better design at saka mas mabilis ang production (It’s a better design and faster to produce),” he said.

The visit to Mariveles National High School-Alasasin Annex showcased the Department of Education’s (DepEd) push to accelerate the delivery of learning spaces using modular technology, which significantly shortens construction time compared to conventional buildings.

Through support from First Lady Liza Araneta-Marcos and the Next Gen Foundation, the modular classrooms were completed in less than two weeks—demonstrating how prefabricated structures can quickly respond to urgent infrastructure gaps.

Education Secretary Sonny Angara said the initiative offers a practical interim solution while permanent school buildings are being developed.

The classrooms will immediately serve 1,031 learners at Mariveles National High School-Alasasin Annex, which faces a projected shortage of at least five classrooms due to an expected increase in enrollment.

PhilHealth expansion

The President also led the distribution of digital learning devices and the rollout of the “YAKAP at Kalinga Caravan,” providing free medical consultations, laboratory services, medicines, and vision screening for students and school personnel.

The initiative aims to support the overall well-being of learners and teachers as part of the government’s broader efforts to strengthen the education sector.

The joint initiative of the Philippine Health Insurance Corp. (PhilHealth) and DepEd supports student well-being and promotes preventive healthcare within the school community.

Marcos also noted that additional funding has been restored to PhilHealth, allowing the expansion of its programs.

He said the restored P60 billion budget will help improve healthcare services and extend benefits to more Filipinos.

Related Tags

President Marcos Bongbong Marcos Oil price hike
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