Metro Manila, Philippines – President Ferdinand Marcos Jr. said the government is studying possible changes to oil policies, including reviewing the oil deregulation law and other fuel-related measures, but noted that immediate relief remains the priority.
Speaking after the Philippine National Police Academy commencement exercises, Marcos said all policy options are being considered as the country grapples with rising oil prices driven by the Middle East conflict.
“Well, as I said before, nothing is being discounted… lahat ng maaaring gawin upang mayroon tayong magawa para tulungan na pagaanin ang epekto nitong nangyayaring giyera sa Middle East ay talagang pinag-uusapan namin,” he said.
[Translation: Nothing is being ruled out… everything that can be done to ease the impact of the Middle East conflict is being discussed.]
The president, however, cautioned that major policy shifts such as amending the oil deregulation law would take time.
“You know, we would love to amend the oil deregulation, mahaba pa ‘yung diskusyon ‘yan. I don’t know when it will come out,” Marcos said.
[Translation: We would like to amend the oil deregulation law, but that would require a long discussion.]
He said the targets now are short-term measures that can immediately ease the burden of the people.
“What we are focused now is immediate… kung ano ‘yung maaari natin paratingin kaagad na tulong sa taumbayan ay ‘yun ang aming ginagawa,” he said.
[Translation: We are focused on what immediate help we can deliver to the public.]
A number of groups and lawmakers have sought a revisit of the oil deregulation law and explore options such as suspending fuel taxes or adjusting pricing mechanisms to cushion the impact of global oil volatility.
Marcos reiterated that the government is taking a flexible approach, keeping all options on the table while prioritizing urgent interventions to stabilize supply and support consumers.
“But as I said… lahat ng maaaring gawin eh tinitingnan namin, pinag-aaralan namin,” he said.
[Translation: Everything that can be done is being examined and studied.]
