Senate Deputy Majority Leader Joseph Victor “JV” Ejercito on Wednesday, March 25 said he welcomes President Ferdinand “Bongbong” Marcos Jr.’s declaration of a state of national energy emergency but the directive is already “a bit too late.” That is why Ejercito said the government...
Having ample fuel inventory is one thing, but paying for it is another. While energy officials tout procurement that stretches into May, the reality at the gas pump remains grim as another round of price hikes is expected next week. Based on the two-day trading average at Mean of Platts Singapore...
Some senators on Wednesday, March 25 finally heaved a sigh of relief after President Ferdinand “Bongbong” Marcos Jr. finally declared a state of national energy emergency for the Philippines in light of the ongoing oil crisis. “I welcome the President’s declaration of a state of national...
To cushion Filipinos from surging pump prices and fuel shortages caused by ongoing Middle East tensions, the Department of Budget and Management (DBM) approved the release of ₱20 billion to the Department of Energy (DOE). “The move comes amid escalating geopolitical tensions in the Middle East...
The Philippines can quarantine a virus, but it cannot quarantine the global oil market. This is the warning from one of the architects of the country’s pandemic recovery, who argues that the current fuel shock could be a more ruthless economic adversary than Covid-19. While the health crisis was...
President Marcos said changes in relations with China are already taking place as he signaled openness to joint gas development with Beijing despite ongoing territorial disputes. “I think it’s certainly going to happen… there’s going to be a very, very serious restructuring,” Marcos said...
President Marcos said ferry and bus operators have committed not to increase fares this Holy Week despite rising fuel prices. In an interview with Bloomberg aired on Tuesday, March 24, the President said the commitment is part of the government’s efforts to ease the burden on commuters and the...
Philippine Airlines (PAL) said it has shored up its jet fuel reserves for the “foreseeable future,” seeking to calm markets after President Marcos warned that the regional energy crisis could potentially ground the country’s carriers. In a statement on Wednesday, March 25, the flag carrier,...
Senate President Pro Tempore Panfilo “Ping” Lacson is pushing for a shorter time for the President before suspending—or restoring—the excise tax on fuel upon the recommendation of the Development Budget Coordination Committee (DBCC). Lacson suggested this on Tuesday, March 24 saying it is...
The Department of Social Welfare and Development (DSWD) on Tuesday, March 24 reassured public utility vehicle (PUV) drivers that its cash relief assistance (CRA) program has enough funds to continue, amid false reports that the agency had run out of money. “There is no truth to the claim that...
Senator Francis “Chiz” Escudero said on Tuesday, March 24 the Philippines can take advantage of its hosting of the Association of Southeast Asian Nations (ASEAN) Summit to secure regional solidarity in light of the global uncertainty over energy supply due to the Middle East conflict. Escudero...
Malacañang said President Marcos is carefully balancing the rollout of government assistance, transport fare policies, and inflation concerns as the country grapples with rising fuel prices. Presidential Communications Office (PCO) Undersecretary Claire Castro said the President is weighing the...
