Amid the global effects of war, President Bongbong Marcos made this assurance.
President Bongbong Marcos assured the people that the country has a sufficient supply of crude oil and petroleum products.
Amid the ongoing global disruptions in oil markets caused by the conflict in the Middle East, causing a quick and huge increase in prices, President Ferdinand “Bongbong” Marcos Jr. assured the Filipino people that the Philippines has a sufficient supply of crude oil and petroleum products.
During a press briefing at Malacañang Palace, the president expressed and showed confidence that the country is able to maintain a steady flow of fuel beyond the roughly 45‑day supply level estimated based on current reserves.
He noted that additional deliveries en route should ensure continued availability, with multiple shipments expected, not just one or two.
“And although we cannot be assured right now of the supply, we can be sure that at least for 45 days we will be alright,” Marcos said.
He added, “I think that we can be fairly confident – we can be confident that after the 45 days, we still have already arrived here in the Philippines. We will have already a flow of oil, not just one delivery, not just two deliveries, but a flow of petroleum and petroleum-related products.”
According to him, the government is exerting efforts to get oil from everywhere, and the country will not stop asking other countries for help. He stressed that based on their analysis, we have no problem with the supply of petroleum products.
However, Marcos expressed that increasing oil prices are beyond the government’s control. To recall, Marcos already signed the bill to suspend or reduce excise taxes on fuel into law but is still determining the perfect timing to exercise the power.
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