President Ferdinand Marcos Jr. outlined expanded government interventions to mitigate the impact of the global oil crisis and stabilize the prices of basic commodities, as geopolitical tensions continue to affect global markets.
In a press briefing on Monday, April 13, he said the administration is closely monitoring international developments, noting that expected peace talks between the United States and Iran have not yet produced a deal, adding pressure on global energy prices.
Marcos assured the public that the country’s supply of essential goods remains sufficient.
“Wag pong mag-alala ang ating mga kababayan dahil sapat naman ng supply natin sa mga pangunahin pagkain,” he said, citing rice, corn, vegetables, sugar, fish, meat, chicken, eggs, and other basic food items as stable and continuously supplied through coordination with industry stakeholders.
He added that prices of key consumer goods are expected to remain stable until the end of April, following government engagement with manufacturers and retailers.
Items under close monitoring include sardines, bread, instant noodles, bottled water, coffee, milk, and canned meat, which are part of efforts to prevent sudden price increases in essential household products.
To ease the burden on households, Marcos announced the suspension of excise taxes on LPG and kerosene. He said this will significantly reduce daily living costs, estimating a decrease of around ₱37 per LPG cylinder and ₱5.60 per liter of kerosene, directly benefiting families relying on these fuels for cooking and basic energy needs.
He also directed economic agencies to speed up food importation processes by reducing tariffs on selected imported goods while maintaining protections for local farmers and producers. Marcos stressed the need for balance, saying, “Bawat hakbang malinaw ang proteksyon sa ating lokal na produksyon,” as the government seeks to protect both consumers and the agricultural sector.
In addition, the administration will purchase surplus agricultural produce to prevent wastage and stabilize farm prices, while expanding the subsidized rice program with more outlets and longer operating hours for senior citizens, persons with disabilities, and solo parents. Marcos also said adjustments in port fees, particularly in Subic Bay, will help reduce logistics costs, ensuring that relief measures translate into lower prices for Filipino consumers.
