President Marcos orders creation of crisis committee amid oil price surge

President Ferdinand Marcos Jr. ordered the creation of a crisis committee to coordinate government action and mitigate the impact on consumers and transportation sectors amid the recent spike in oil prices.

The move comes as fuel costs continue to rise globally due to the ongoing conflict in the Middle East, prompting lawmakers and sectors to call for swift government intervention.

The committee is intended to ensure that the supply of petroleum products remains uninterrupted while providing relief measures such as fuel subsidies, public transport discounts, and cash assistance.

Presidential Communications Office Undersecretary Claire Castro confirmed that a draft of the crisis committee has already been prepared.

“The President has officially ordered the formation of the committee,” Castro said. “We are just waiting for the final document to be completed before providing details on membership and specific powers.”

The committee is expected to coordinate among key government agencies, including the Department of Energy, Department of Transportation, Department of Social Welfare and Development, and other relevant bodies to ensure a whole-of-government approach in addressing the price surge.

Details on its composition and authority are still being finalized but officials said the crisis committee will focus on securing fuel supply, overseeing the distribution of subsidies, and monitoring price stability in the market.

“The aim is to prevent any interruption in the supply of oil and related products and to provide timely assistance to affected sectors,” Castro said.

“Once finalized, the committee will serve as the central mechanism for crisis response regarding fuel and energy challenges,” she said.

The President’s directive signals an escalation of government measures to address the effects of global oil volatility on the Philippine economy and daily life, particularly for commuters, public utility drivers, and other vulnerable sectors.

-Paraluman News