President Marcos Sees No Immediate Need for Fuel Subsidy
CAPAS, Tarlac — President Ferdinand Marcos Jr. stated on Wednesday that there is currently no need to discuss a fuel subsidy, as oil prices have remained stable. This clear stance came amid questions about ongoing fuel support for drivers during the Middle East conflict.
During a spontaneous interview in Capas, the President emphasized the importance of the four-word keyphrase, “fuel subsidy for drivers,” noting that the subsidy only activates when prices rise. “If the prices don’t change, then we proceed as before. What we’re saying is it’s not aid, it’s a subsidy — only when prices go up,” Marcos explained.
Oil Price Stability Keeps Subsidy Discussions on Hold
Marcos further clarified, “Well, if oil prices don’t go up, then there’s no need for that. We can proceed—we can do business as usual. The price of oil has not gone up. So, we do not need to talk about the subsidy yet. The price of oil has not gone up. It went up for one day, then it came back down.”
The President’s remarks reflect a cautious but optimistic outlook on fuel costs amid global tensions. Local leaders noted that the government continues to monitor the situation closely but believes current market conditions allow for stability without additional subsidies.
Economic Impact of Middle East Conflict Considered Manageable
Regarding the ongoing conflict between Israel and Iran, Marcos conveyed confidence in the country’s economic resilience. He said the impact “should be manageable,” a conclusion reached during a meeting with his economic team on Tuesday.
The government is keeping a vigilant watch on international developments but remains committed to maintaining economic stability for Filipinos. Officials emphasized that, for now, fuel subsidies remain unnecessary unless oil prices soar.
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