Malacañang Calls Emergency Meeting With Oil Companies — Recto Says 'Simple Lang Ang Gusto ng Pangulo'
With fuel prices spiraling out of control, Malacañang hauled in oil company executives for a face-to-face meeting on Thursday, March 12, to demand answers on supply and pricing. Executive Secretary Ralph Recto led the government delegation alongside DOE Secretary Sharon Garin.
"The meeting focused on supply and prices, on how to keep both stable, amidst the volatility we are seeing," Recto said. He stressed that the meeting was "pursuant to the directive of the President to protect our people from the impact of surging oil prices." The government has been addressing the crisis on multiple fronts, including energy conservation measures and subsidies for transport groups.
Perhaps the biggest development: President Marcos has certified as urgent a bill that would allow the suspension or reduction of excise taxes on petroleum products during economic emergencies. "The President wants the bill on his desk immediately so he can sign it," Recto revealed. If passed, this would give the executive branch the power to quickly cut fuel taxes when global prices go haywire.
DOE Secretary Garin didn't mince words either, warning oil companies that premature or unreasonable pump price increases "would not be tolerated." She reminded them that fuel price adjustments must reflect actual market conditions — not panic-driven speculation. Oil firms, for their part, assured the government that bringing fuel supplies to the Philippines remains manageable despite geopolitical tensions.
"Simple lang ang gusto ng Pangulo. Habang inaaksyunan natin ang krisis na ito, dapat magtulungan ang gobyerno at pribadong sektor para hindi gaanong maramdaman ng ating mga kababayan ang bigat nito," Recto said. With another massive price hike expected next week, the Palace is clearly trying to show the public it's not just sitting around. Whether the oil companies will actually listen — that's a different story.
Source: Manila Bulletin
