By Darryl John Esguerra | Philippine News Agency
The government on Sunday commended businesses that have chosen to defer price increases amid rising global oil prices, calling it a show of solidarity with consumers.
In a statement, Executive Secretary Ralph Recto said some firms have “commendably” prioritized public welfare over profits as the country navigates the impact of the Middle East conflict on energy markets.
“As we do these, we commend businesses that have deferred price increases as an act of solidarity with the public, commendably placing patriotism before profits,” Recto said.
Recto said the move complements ongoing government interventions ordered by President Ferdinand R. Marcos Jr. to stabilize fuel supply and cushion the public from price shocks.
These include efforts to secure oil from both traditional and alternative sources, such as recent deliveries and orders from global partners, as well as commitments from industry players like Petron and Seaoil to maintain stable supply lines.
The Department of Energy (DOE), in coordination with other agencies, has also facilitated the procurement of 1.04 million barrels of diesel, with initial shipments expected this week.
On the domestic front, the government is expanding fuel subsidies for transport operators, as well as assistance to farmers and fisherfolk to prevent higher fuel costs from driving up food prices.
Recto said energy conservation measures are being enforced across government offices, including reduced fuel use for non-essential vehicles and monitoring of electricity consumption.
He added that cost-cutting measures have extended to the country’s hosting of the Association of Southeast Asian Nations Summit, with activities scaled down to focus on urgent concerns.
The government also welcomed initiatives from local government units, including free ride programs and transport subsidies, to help ease the burden on commuters.
“These are examples of damayan that will help us ride out together the economic disruptions [that are] hitting us hard,” Recto said. (PNA)
