Hindi Pa Red Alert: Palace Says Oil Crisis Still Under Control

Malacañang says the country is not yet at the point where President Ferdinand Marcos Jr. needs to declare a national emergency over rising fuel prices. Palace Press Officer Claire Castro said the situation is still manageable, even as pump prices continue to climb because of tensions in the Middle East.

Speaking in Mandaue City, Castro said the government remains in control and is closely watching how the oil sector is moving. She added that the Department of Energy is in regular coordination with oil companies so officials can keep track of supply and price movements habang umiinit ang global market.

Her statement came after TUCP Representative Raymond Democrito Mendoza urged the President to consider using emergency powers under the Oil Deregulation Law. Mendoza pointed to a provision that can allow the government to temporarily take over or direct oil industry operations during an emergency.

Castro, however, said the current situation does not justify that level of intervention for now. She also urged the public to avoid fearmongering, saying panic only makes things harder for ordinary Filipinos already dealing with higher fuel and commodity costs.

The Palace said the administration is instead studying other ways to soften the blow, including possible adjustments to petroleum-related taxes. Castro added that any move to amend or repeal the Oil Deregulation Law would ultimately be up to Congress, though she said the President would not oppose measures that truly help the country.

Source: Philippine News Agency