The Manila Times
PRESIDENT Ferdinand Marcos Jr. is open to studying the proposed rationing of fuel to ensure the country’s oil supply does not dry up, the Palace said Monday as the price of diesel shot up to P160 a liter. Other recommended measures to cushion the impact of skyrocketing petroleum product prices brought on by the war in the Middle East included price caps and monthly cash assistance for minimum wage earners. “All suggestions will be considered,” Presidential Communications Office (PCO) Undersecretary Claire Castro said in Filipino in a press briefing, when asked about some lawmakers’ suggestion for the government to enforce fuel purchasing limits to conserve energy stocks. The last time fuel was rationed was during the 1970 energy crisis. “We will discuss this with (Energy) Secretary Sharon Garin,” Castro said. The Philippines is one of the countries deeply affected by the war in the Middle East and its impact on world oil prices. The fighting between the forces led by the United States and Israel against Iran triggered disruptions in the Strait of Hormuz, the waterway through which one-fifth of the world’s oil supply passes to and from oil-exporting Gulf states. To remedy this, the Marcos administration, through the DOE and Department of Foreign Affairs (DFA), negotiated with the Iranian government for the safe passage of Philippines-bound vessels, particularly those carrying oil. Foreign Affairs Secretary Maria Theresa Lazaro reported that Iran tagged the Philippines as a “non-hostile country,” which is seen as vital for the protection of Filipino seafarers and the country’s energy supply. “Iranian Foreign Minister, His Excellency Seyed Abbas Araghchi, assured the safe and peaceful passage of Philippine-flagged vessels, energy sources, and all Filipinos in the Strait of Hormuz. This is a big deal for the Philippines because it will ensure the safety of Filipinos who will pass through there and it will also maintain security in the country’s energy supply. This will also ensure the continuous delivery of oil and fertilizer supplies in the Philippines,” Castro said. “In the midst of chaos, the government still remains on top of the situation to ensure the welfare of the people. Everyone can expect the president will lead all measures to maintain the supply of oil in the country,” she added. Sharp price climb Diesel prices increased beyond P160 per liter, starting Tuesday, as the war in the Middle East continued to affect local fuel prices. Shell raised diesel prices by P19.80 per liter, gasoline by P5.90, and kerosene prices by P9.10. Jetti Petroleum said that starting April 10, it will increase its diesel prices by P18.60 per liter, and gasoline by P5.40. Petron on Tuesday increased its diesel prices by P18.80 per liter, gasoline by P4.90, and kerosene by P8.10. Last week, gasoline prices increased by up to P2.90 per liter, diesel prices went up by about P4.50 to P12.90 per liter, while kerosene prices were raised by P1.00 to P2.40 per liter. According to monitoring data from the Department of Energy in Metro Manila and highly urbanized areas, last week, gasoline prices ranged at around P81.65 per liter to P114 per liter, diesel was between P109.50 and P153.10 per liter, and kerosene was at about P141 to P169.19 per liter.
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