Malacañang insisted Monday, March 23, that there is no oil crisis in the Philippines so far, even as it announced the creation of a crisis committee to tackle rising fuel prices and cushion the impact of tensions in the Middle East.
Presidential Communications Office (PCO) Undersecretary Claire Castro, in a press briefing, stressed that the government is not downplaying the situation but is acting proactively to mitigate potential disruptions.
Castro confirmed that President Marcos had already ordered the formation of a crisis committee ahead of public calls to do so.
While details are still being finalized, she said the body will focus on ensuring supply stability and addressing the needs of Filipinos, particularly in fuel and basic goods.
Despite rising oil prices, Castro reiterated that the government does not consider the situation an oil crisis in the Philippines, citing Department of Energy (DOE) Secretary Sharon Garin’s assessment that the country has sufficient fuel supply.
“Hindi pa po kinukonsidera na mayroon tayong oil crisis dahil kumpleto po tayo at enough po ang supply ng langis,” she explained, clarifying that the President’s earlier reference to an “oil crisis” pertained to the Middle East, not the Philippines.
She emphasized that the main concern is price disruption rather than supply shortage, noting that negotiations are ongoing to secure additional imports.
President Marcos, in his weekend vlog, also highlighted efforts to stabilize power supply through 23 projects expected to add 900 megawatts to the grid, alongside coordination with partner countries such as India, China, Japan, Thailand, Brunei, and South Korea.
The government is implementing measures to cushion the effects of rising oil prices, including subsidies and assistance programs, with multiple agencies—the DOE, Department of Agriculture (DA), and Department of Social Welfare and Development (DSWD)—working together to ensure supply stability.
“Kumpleto po ang supplies natin sa krudo… pati po sa pagkain ,” Castro said. Acknowledging that the Philippines will inevitably be affected by the Middle East conflict, Castro assured that the government is working to soften its impact.
She echoed the President’s call for cooperation, urging Filipinos to practice prudence and help manage the situation as global uncertainties persist. (Argyll Geducos)
