Amid the Soaring Fuel Prices in PH, Marcos Jr. Announced Another Bigtime Rollback in Pump Prices
MARCOS JR. – The President is calling on the oil companies to implement the fuel price rollback in full amid the soaring pump prices in the Philippines.
Earlier this week, Department of Energy (DOE) Secretary Sharon Garin claimed that there is a possibility for another rollback in fuel prices in the Philippines based on the trading movements in the global market. This development is the second time since a series of oil price hikes brought diesel to an unimaginable cost of P170 per liter.
Delivery riders and jeepney drivers in the Philippines called for long-term solutions from the government. For a number of times, Pres. Bongbong Marcos stressed that the global oil prices cannot be controlled by the Philippine government.
Marcos Jr. assured that the government will help the people. Fuel subsidies were roll out. However, the President suspended the oil price hike and explained that the state is trying to balance its help among the members of the transport and the commuters.
The oil price increase in the Philippines is triggered by the war in the Middle East. After Iran was attached by the United States and Israel, Tehran decided to close the Strait of Hormuz from vessels linked to U.S. and Israel. It is a vital passageway for global oil shipments, thus, the restrictions have greatly affected the international oil supply.
Recently, Pres. Ferdinand Marcos Jr. announced that there will be another bigtime oil price hike this Tuesday, April 21. According to the President, the pump prices will be reduced with the following amounts:
- Diesel — P24.94 per liter
- Gasoline — P3.41 per liter
- Kerosene — P2.00 per liter
Marcos Jr. stressed that the upcoming fuel prices rollback will be much bigger than the previous rollback. Through his video message, he called on the oil companies to implement the rollback in full.
“At sa ating mga oil companies, malinaw naman ang aking panawagan, ipatupad ninyo ang rollback nang buo, tama, at walang pagkaantala. Ibigay ninyo sa taumbayan ang dapat naman na nasa kanila,” the President said.
Through his video message, Pres. Ferdinand Marcos Jr. also told the Filipinos that the Department of Energy is open for their complaints. He assured that the authorities will act right away if there are violations on the oil price rollback.
Previously, Vice Pres. Sara Duterte spoke about lowering oil prices.
