No oil crisis in PH, only 'price disruption'—Palace
Malacañang Palace maintains the Philippines is not suffering from an oil crisis as the country has enough oil supply, said Presidential Communications Office undersecretary and Palace press officer Claire Castro.
"Ang sabi ni [Energy] secretary Sharon [Garin], may dalawang klaseng krisis: sa supply at sa presyo. So ngayon po, kung pag-uusapan natin ang supply, ay wala tayong sasabihing krisis pagdating sa supply. Maybe merong price disruption dahil nga sa nangyayaring oil crisis sa Middle East," said Castro at a press conference on March 23.
In retaliation to attacks from the US and Israel, Iran has essentially closed the narrow Strait of Hormuz, through which about a quarter of the world's seaborne oil supply passes. The war in the region has just entered its fourth week.
The effect has been immediate and widespread, with fuel prices in the Philippines steadily rising since the beginning of the conflict.
Oil firms have announced another round of price hikes this week. Diesel and kerosene are expected to have double-digit increases.
Castro sought to calm public perception about the government's efforts to ease the oil situation in the country amid the rising prices.
"Lahat ginagawa. Nandidiyan na rin ang pagbibigay ng tulong ng DSWD, nandidiyan ang pagtatrabaho ng DOE, pati ng DA at ibang ahensya," Castro said. "Ayaw po na maramdaman ng mga kababayan natin na may kulang tayo sa supply."
"Kumpleto ang supplies natin sa krudo, sa oil, sa fuel, pati sa pagkain," Castro added.
According to the undersecretary, Garin is currently in negotiations to bring 440,000 barrels of fuel into the country, with the possibility of an additional 600,000 barrels.
To curb the rising prices, both the House and Senate have approved the granting of emergency powers to President Ferdinand Marcos, Jr. to either suspend or reduce fuel excise tax. According to Castro, however, as of March 21, Marcos has yet to receive the measure for him to sign.
In the meantime, Castro said Marcos has ordered the formation of a crisis committee.
"Bago pa may nag-suggest na may gumawa ng crisis committee, nag-utos na ang pangulo na maggawa officially ng crisis committee. Hintayin na lamang natin ang dokumento," she said, adding she has a draft but can't share details pending its confirmation.
Global economy under 'major threat'
Addressing the National Press Club in Canberra on March 23, International Energy Agency chief Fatih Birol said the energy crisis stemming from the Middle East war has gone global.
"This crisis, as things stand, is now two oil crises and one gas crash put all together," Birol said.
"The global economy is facing a major, major threat today, and I very much hope that this issue will be resolved as soon as possible," he added.
Birol called for global efforts as "no country will be immune to the effects of this crisis if it continues to go in this direction."
More protests against rising prices
Within days of a nationwide strike on March 19 organized by transport group Piston to protest rising oil prices, another country-wide protest has been set for March 26 and 27 by the No to Oil Price Hike Coalition.
The group has six demands: remove VAT and excise tax on petroleum products, revert oil price to P55 per liter, abolish the oil deregulation law, implement fare hikes for all modes of transportation along with a P1,200 family living wage, nationalize the oil industry, and officially call for an end to the Middle East war.
"Naniniwala ang No To Oil Price Hike Coalition na kayang makontrol ng estado ang pagtataas ng presyo ng krudo at mabigyan ng alwan ang mga apektado nito sa pamamagitan ng mga polisiyang pumapabor sa mamamayan, hindi sa mayayamang kompanya ng langis tulad ng Shell, Caltex, at Petron," the coalition wrote in a statement.
It added that the group is ready to launch weekly protests to match weekly oil price hikes.
