MANILA, Philippines — Malacañang is in the final stages of forming a specialized “crisis committee” to address potential shortages in food and petroleum products as the conflict in the Middle East enters its fourth week. President Ferdinand Marcos Jr. officially ordered the creation of the body to identify the immediate needs of citizens and ensure that the supply of essential goods remains uninterrupted.
- Supply Chain Security: Focus on maintaining the steady flow of oil, fuel, and basic necessities.
- Negotiations: The government is currently in talks with other nations to import up to 600,000 barrels of fuel to bolster national reserves.
- Monitoring: While officials state there is no “supply crisis” yet, the committee will monitor “price disruptions” caused by the global energy situation.
President Marcos is currently awaiting an enrolled bill that would authorize him to suspend or cut the excise tax on fuel. This measure, which has been certified as urgent, is seen as a primary tool to provide immediate financial relief to consumers.
The Senate has also formed its own Protect (Proactive Response and Oversight for Timely and Effective Crisis Strategy) Committee, which is tasked with developing a contingency plan for worst-case scenarios—including the possibility of fuel prices reaching $200 per barrel.
- Labor Advocacy: The Trade Union Congress of the Philippines (TUCP) has demanded that workers, particularly from the transportation and logistics sectors, be represented on the crisis committee. They argue that the five million minimum wage earners are the “first and hardest hit” by oil price shocks.
- Takeover Clause: Some labor groups are urging the President to invoke Section 14(e) of the Downstream Oil Industry Deregulation Act, which allows the government to temporarily take over or direct the operations of oil companies during a national emergency. However, Malacañang has stated there is “no need yet” to exercise these emergency powers.
The formation of this committee comes as diesel prices hit record highs of ₱144 per liter and the Philippine peso weakened to ₱60.30 against the US dollar. With no significant strategic fuel reserves, the government is moving to create a structured response to prevent a full-blown economic emergency.