Marcos Jr. says more fuel coming to PH

NEW YORK, March 11 ------ President Ferdinand Marcos Jr. announced that more fuel supply will be coming to the Philippines amid surging prices in petroleum products in the wake of the escalating tensions in the Middle East. This, as he reassured the public that the country has enough fuel inventory. “In terms of supply, we are in good shape. And not only do we have inventory in the Philippines, we are also awaiting some supplies coming in that are in transit,” Marcos Jr. said in a press briefing on the last day of his working visit in New York, USA.

The Chief Executive said the Philippines is looking for other sources of fuel. “Naghahanap tayo ng iba’t ibang lugar na makapagbigay ng supply sa atin. We are talking to many other countries who we normally do not buy oil from. But hopefully, we will be able to come with an agreement with them,” he noted. “The real problem here that everybody has to deal with, is hindi natin alam kung gaano katagal nito,” the chief executive added.

Marcos Jr. also confirmed that he will certify as urgent the proposed measure seeking to grant emergency powers to the President to slash fuel excise tax only when the committee reports from both chambers of Congress are finished. “When you declare a bill as urgent, the shortcuts if we say only begin in the plenary debates. So ‘yung requirement of three working days between the reporting out from committee to the debate on the floor is shortened,” he explained.

Asked if he has a preferred provision on the measure, Marcos Jr. said what they are asking from the legislature is very simple – the emergency powers can be exercised only when the average price of oil has breached $ 80 per barrel for a month. “It does not mean that you will necessarily do it, but it can be exercised by the president,” he said.

Source: news.abs-cbn.com