Palace assures PH oil supply sufficient, program in place to cushion impact of price hikes

Malacañang on Wednesday assured the public that government relief initiatives, including the expanded Unified Package for Livelihoods, Industry, Food and Transport (UPLIFT) program, are in place to cushion the impact of rising fuel prices driven by tensions in the Middle East.

Palace Press Officer Claire Castro gave the assurance during a press briefing, adding that the country maintains a sufficient oil supply.

“Alam po naman natin na meron po tayong UPLIFT at may mga programa po tayo kung saan maaari nating tulungan lalung-lalo na po ang direktang nata-target po ng epekto ng krisis sa Middle East (We all know that we have UPLIFT and other programs to provide assistance, especially to those directly affected by the impact of the crisis in the Middle East),” Castro said.

Castro added that government savings could be tapped to support the continued implementation of the expanded UPLIFT program.

The Department of Energy (DOE) has transmitted a certification to the Development Budget Coordination Committee (DBCC) confirming that Dubai crude prices have breached the USD80 per barrel threshold for a month.

From Aug. 13 to Sept. 11, 2026, the average price of Dubai crude reached USD99.41 per barrel. Under existing guidelines, reaching this threshold allows the government to consider suspending or reducing excise taxes on petroleum products.

Asked if President Ferdinand R. Marcos Jr. is considering suspending fuel taxes, Castro noted that the DBCC has yet to submit its final evaluation and recommendation.

She said interventions for affected sectors, particularly transportation, would be tackled during the 11th Economic Development Council meeting presided over by the President at Malacañan Palace on Wednesday afternoon.

“Ang isa sa mga usapin dito ay patungkol sa transportasyon. So, tignan po natin (One of the matters to be discussed concerns transportation. So, let us see),” she said.

When asked if the President would issue an urgent decision, Castro reiterated that Marcos acts based on technical recommendations presented to him.

“Alam naman po natin na lahat kailangang aksyunan agad ay mabilis naman pong umaksyon ang ating Pangulo (As we know, whenever there is a matter that needs to be addressed immediately, our President acts swiftly),” Castro said.

“Depende na po iyan kung ano ang magiging rekomendasyon. Kapag nandiyan na po ang rekomendasyon, umaaksyon naman agad ang ating Pangulo (It will depend on what the recommendation will be. Once the recommendation is submitted, our President acts immediately),” she added.

Castro emphasized that Marcos’ primary directive is to secure energy stability and prevent fuel shortages.

-Ruth Abbey Gita-Carlos / PNA