BBM assures stable oil supply as gov't studies tax relief

President Ferdinand "Bongbong" Marcos on Wednesday, March 11, assured the public that the country’s oil supply remains stable despite escalating tensions in the Middle East.

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Marcos said the Philippines has sufficient fuel inventory and additional shipments are already on the way, while the government considers possible fuel tax relief to cushion the impact of rising petroleum prices.

“In terms of supply, we are in good shape and not only do we have inventory in the Philippines, we also are waiting some supplies coming in that are in transit,” he told the media in New York City.

The president said he has asked officials to check whether incoming shipments might pass through areas affected by the conflict.

“Ang pinaaral ko lang kung 'yung mga in transit baka naman nandoon sila sa lugar ng peligro,” Marcos said, saying that initial assessments show the shipments are not expected to pass through dangerous zones.

He added that a possible disruption in the Strait of Hormuz, a major global oil shipping route, has not yet been factored into the government's supply projections.