President Ferdinand Marcos Jr. on Thursday said the government is exploring alternative sources of oil and petroleum products to ensure sufficient supply while managing rising price pressures.
Speaking to reporters in Bataan, Mr. Marcos said authorities are closely monitoring both fuel and food prices and are working to keep costs manageable.
“We are securing the supplies of oil. We are securing the supplies of food. And so far, sapat naman ang ating mga supply, ang ating mga naka-stock na sa langis at saka sa pagkain (our supplies are sufficient, our stocks of oil and food),” he said.
Mr. Marcos was in Mariveles National High School–Alasasin Annex in Bataan to inspect prefabricated classrooms, distribute digital learning devices, and launch the “YAKAP at Kalinga Caravan,” an initiative supporting learners and teachers as part of broader efforts to strengthen the education sector.
The President said the country continues to source fuel from the Middle East while looking for alternative suppliers, noting that existing partners have committed to honoring their contracts.
“So, naghahanap tayo ng alternative sources ng langis. Halimbawa sa fertilizer… Petroleum product ganoon. Hindi problema ‘yun dahil ‘yung pinagkukuhanan natin nangako naman sa atin na itutuloy nila ‘yung kanilang mga kontrata,” he said.
(So, we are looking for alternative sources of oil, including for fertilizer and other petroleum products. That is not a problem because our suppliers have assured us they will continue their contracts.)
Mr. Marcos also assured the public that the situation remains “normal,” with the government adjusting to protect livelihoods and maintain stable supply chains.
He said that while fare increases have been deferred, additional assistance will be extended to transport workers to offset rising costs.
“‘Yung mga transport workers, kahit na hindi itataas ang fare sa ngayon, deferred lang muna ang fare hike, ay dadagdagan naman natin ang tulong sa kanila para hindi naman sila malugi. Lalong-lalo na parating ang Holy Week alam nating napakaraming bibiyahe para hindi mabawasan ang biyahe. So, lahat ng ating mga pamilya ay makakapag-celebrate ng Holy Week na kasama ang kanilang mga mahal sa buhay,” he said.
(For transport workers, even if fares are not increased for now, the hike is only deferred. We will increase assistance so they will not incur losses, especially with Holy Week approaching when many people will travel.)
He added that the government is exploring various subsidy measures to address the volatility of global oil prices.
On Wednesday, Mr. Marcos ordered the suspension of public transportation fare hikes amid tensions in the Middle East to ease the burden on commuters.
The move comes as transport groups stage protests calling for the removal of fuel taxes, a rollback of oil prices, and a ₱5 fare increase.
