President Ferdinand Marcos Jr. on Tuesday announced a P50 per-kilo price cap on imported well-milled rice and unveiled a broad package of subsidies and interventions aimed at shielding Filipinos from rising costs, as the government ramps up its response to the global oil crisis triggered by escalating tensions in the Middle East.
Speaking in a video following a meeting of the administration’s economic and social cluster, Mr. Marcos said the government is moving on multiple fronts to stabilize prices, secure energy supply, and protect vulnerable sectors.
“The National Price Coordinating Council has already recommended a price cap of P50 per kilo for imported well-milled rice, and we will issue an Executive Order to implement this as soon as possible,” the President said.
The price cap is among the most immediate measures aimed at cushioning households from inflationary pressures, particularly as fuel-driven costs ripple across food supply chains.
Mr. Marcos said the government has also formally established the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) committee to accelerate and coordinate interventions across key sectors, including energy, transportation, agriculture, and social welfare.
As part of the relief package, the President announced financial assistance for more than 4 million beneficiaries under the Presidential Assistance to Farmers, Fisherfolk and Families program, with each recipient set to receive P2,325 in April.
Fuel subsidies are also being expanded, covering more than 40,000 farmers, alongside the distribution of fuel vouchers and cards for transport and agricultural sectors.
In addition, the government has earmarked P2.5 billion in fuel subsidies for around 1.4 million drivers and operators, with nationwide distribution scheduled to begin on April 6.
Price stability efforts
Malacañang said parallel efforts are underway to keep prices of basic goods stable, at least in the short term.
Presidential Communications Office Undersecretary Claire Castro said manufacturers have committed to maintaining current prices until April 16 following discussions with the Department of Trade and Industry (DTI).
“We already have a list of products… manufacturers have promised there will be no price increase until April 16, 2026,” Castro said.
She said the DTI will conduct weekly monitoring and continue engagements with manufacturers to reinforce compliance.
However, Castro acknowledged that global developments, particularly the Middle East conflict, could eventually drive prices higher.
“There are really instances where we won’t be able to prevent it due to the conflict in the Middle East,” she said.
For now, she said the government is focused on sustaining the current price freeze.
Agriculture sector seen stable—for now
Agriculture Secretary Francisco P. Tiu Laurel Jr. downplayed fears of an immediate surge in food prices, saying worst-case projections tied to high oil prices are based on extreme assumptions.
“They did not factor in government action, which we will undertake to protect Filipinos from an oil shock,” Tiu Laurel said.
He noted that scenarios presented to the Senate assumed crude oil prices reaching $200 per barrel for six months but did not include mitigating interventions.
The Department of Agriculture (DA) is preparing contingency measures, including emergency fertilizer procurement through the Fertilizer and Pesticide Authority and increased imports by state-linked firms such as Planters Products Inc.
The agency is also studying alternative inputs, including organic fertilizers like chicken manure, to reduce dependence on petroleum-based products.
Despite global uncertainty, Tiu Laurel said domestic indicators remain stable, with sufficient pork inventory and broiler production exceeding demand, helping ease farmgate prices.
He warned traders against profiteering, saying unjustified price increases and hoarding will not be tolerated.
House mobilizes response
In the House of Representatives, Speaker Faustino G. Dy III has expanded to 13 the number of committees tasked to craft a unified legislative response to the oil crisis.
Joint hearings are scheduled to begin April 8, even during the congressional recess.
“The objective of these hearings is to work with our partners in the Executive to identify solutions, not point fingers,” Dy said.
“We want to hear directly from our economic managers and frontline agencies so we have the information we need to come up with measures that can help our people cope with the impact of the Middle East conflict,” he added.
House Committee on Ways and Means chair Rep. Miro Quimbo said the expanded group aims to consolidate data and fast-track legislation, including a possible supplemental budget.
“The sole purpose is really to have an orchestrated and unified response on the part of the House to address the oil price crisis urgently,” Quimbo said in Filipino.
He said lawmakers are pursuing a two-pronged approach focused on immediate assistance and long-term resilience.
“We wanted to do something very short-term… and then a long-term plan on how we can prepare the country so it can be more resilient in the event of a similar crisis in the future,” Quimbo said.
Proposals for long-term resilience
Negros Occidental Rep. Javier Miguel Benitez has filed the proposed Resilient Economy and Stabilization for Crisis and Urgent Emergencies (RESCUE) Act, which seeks to institutionalize a comprehensive crisis response framework.
The bill proposes the creation of a P50-billion Bayanihan Economic Stabilization Fund that can be mobilized within 72 hours of a declared national emergency.
“It aims to fix systems before the next crisis, with a permanent fund, a standing council, and rapid deployment of aid within 72 hours,” he said.
The measure also includes provisions for cash transfers, fuel and wage subsidies, loan moratoriums, and strengthened supply chain and energy security systems.
Food security, labor, OFW concerns
At the Senate, Senator Francis Pangilinan said a task force under the AGRI-AGRA team has been formed to monitor the impact of the crisis on food security and agriculture.
“The rise in oil prices will also increase the cost of fertilizer, feeds, and other agricultural inputs, which means there will be a direct impact on food prices,” he said.
Pangilinan is also pushing for a “bayanihan-type” supplemental budget to support affected sectors, including farmers, fishers, and transport workers.
Meanwhile, Senator Joel Villanueva urged stronger protection for overseas Filipino workers’ remittances, noting heightened risks amid instability in the Middle East.
“We have already passed on third reading the OFWs Remittance Protection Act… to prevent all sorts of deductions and hidden fees on the remittances that OFWs send to their families,” he said.
Enforcement steps vs. fare hikes
The Philippine National Police (PNP) has also joined efforts to protect consumers, assisting transport regulators in cracking down on unauthorized fare increases.
PNP chief Gen. Jose Melencio Nartatez Jr. warned operators against exploiting the situation.
“Our mandate extends to looking after the welfare of the riding public. We will ensure that rules and regulations are strictly followed as part of the PNP’s commitment to protect commuters during these challenging times,” he said.
He urged the public to report violations and said joint inspections and monitoring at transport hubs will be intensified.
“Not only security, fuel prices, and goods will be monitored, but also illegal fare increases,” Nartatez said.
Whole-of-government response
Across agencies, officials emphasized that the crisis—driven largely by external geopolitical factors—requires a coordinated domestic response.
Mr. Marcos urged Filipinos to remain vigilant and united, even as the government continues to roll out measures to stabilize prices, secure supply, and protect livelihoods.
He also called on the public to pray for peace during Holy Week, expressing hope that global tensions would ease and bring relief to economies worldwide.
The administration has rolled out transport-related relief measures, including a 50-percent fare discount on LRT-2 and MRT-3, free rides in major urban centers, and toll discounts for public utility and freight vehicles.
To support the agriculture sector, roll-on/roll-off (RoRo) terminal fees for vehicles carrying farm goods will be reduced to P1 starting April 15, a move aimed at lowering logistics costs and stabilizing food prices.
To address supply risks, Mr. Marcos cited measures under Executive Order No. 110, which authorizes expedited procurement of fuel by state entities.
In his video, he said the Philippine National Oil Co. Exploration Corp. has already ordered 1.04 million barrels of diesel, with additional shipments expected through April.
The Department of Budget and Management has also released P20 billion to procure up to 2 million more barrels of oil, extending the country’s buffer stock by an additional 10 days.
The Philippines currently maintains around 51 days of fuel supply, the President said.
Mr. Marcos added that he has signed Republic Act No. 12316, which grants the executive authority to suspend excise taxes on fuel when necessary. The Development Budget Coordination Committee is expected to review the policy within the week.
In the power sector, regulators have suspended the Wholesale Electricity Spot Market (WESM) to curb price spikes and encourage the use of lower-cost energy sources.
The President also cited increased output from the Kamagong 3 gas well in the Malampaya gas field, which now produces up to 60 million cubic feet of gas daily, providing a cheaper alternative to liquefied natural gas.
