Mandaue city: There is no need for President Ferdinand R. Marcos Jr. to declare a state of national emergency to allow the government to take over operations in the oil industry, Malaca±ang said on Tuesday. In a press briefing in Mandaue City, Cebu, Palace Press Officer Claire Castro assured the public that the situation remains manageable, stressing that the government continues to exercise control over developments affecting the oil sector.
According to Philippines News Agency, Castro made the assurance amid calls for stronger intervention to address rising fuel prices. In response to inquiries regarding the potential use of emergency powers under Republic Act (RA) 8479, or the Oil Deregulation Law, Castro confirmed that the current circumstances do not warrant such a move. She emphasized that the President and the government remain in control of the situation.
Castro noted that the Department of Energy (DOE) is maintaining close coordination with oil companies to monitor supply and pricing movements. This engagement with oil firms is aimed at ensuring market stability despite external pressures affecting global oil prices.
The statement from Castro followed calls by Trade Union Congress of the Philippines (TUCP) Representative and House Deputy Speaker Raymond Democrito Mendoza for President Marcos to consider declaring a state of national emergency. Mendoza highlighted that under Section 14(e) of RA 8479, the DOE has the authority to temporarily take over or direct the operations of entities in the oil industry during emergencies.
However, Castro reiterated that the current conditions do not necessitate such measures, given the existing mechanisms in place to manage the situation. She appealed to the public to remain calm and avoid spreading fear.
Castro also indicated that the administration is studying measures to mitigate the impact of rising fuel prices, including possible adjustments to taxes on petroleum products. These proposals are being crafted into legislation for consideration by lawmakers. She added that any amendments or repeal of the Oil Deregulation Law are matters best left to Congress. She affirmed that the President supports initiatives that would benefit the country.
