Marcos: No need for fuel subsidy talks as prices have not risen
President Ferdinand Marcos Jr. —PHOTO FROM PRESIDENTIAL COMMUNICATIONS OFFICE
CAPAS, Tarlac — President Ferdinand Marcos Jr. on Wednesday said there is no need to discuss a fuel subsidy at this time, as prices have not increased.
He made the statement during a chance interview in Capas when asked whether the fuel subsidy for drivers would continue amid the ongoing conflict in the Middle East.
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“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 said.
“Well, if oil prices don’t go up, then there’s no need for that. We can proceed—we can do business as usual,” he added. “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.”
Marcos also said the impact of the ongoing Israel-Iran conflict on the economy “should be manageable.”
This was the conclusion reached by Marcos and his economic managers during their meeting on Tuesday./mcm
