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Plan to declare emergency still under study — Palace
Malacañang is studying the proposal to declare a state of economic emergency due to rising fuel prices and the Russia-Ukraine conflict.
Albay Rep. Joey Salceda urged President Duterte to declare a state of economic emergency, which would allow local government units to use their calamity funds for fuel price surges.
Recent fuel price adjustments increased diesel by P5.85 per liter, gasoline by P3.60 per liter, and kerosene by P4.10 per liter.
Socioeconomic Planning Secretary Karl Kendrick Chua presented 14 recommendations to cushion the impact of the conflict.
President Duterte supported Chua's recommendations and invited lawmakers to consult with his economic team.
The Office of the Executive Secretary is thoroughly studying the proposed government interventions.
Senators expressed readiness to return from recess for a special session to support an emergency declaration.
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Energy Secretary Alfonso Cusi stated that declaring a state of economic emergency is not necessary at this point to address the rising petroleum prices.
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Senate President Vicente Sotto III and presidential candidate Senator Panfilo Lacson are open to attending a special session if President Duterte calls for one to address rising fuel prices.
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Economic managers will convene on Monday to address the impact of escalating oil prices, driven by the Russia-Ukraine conflict, on domestic commodity prices.
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The House of Representatives is forming an "Fuel Crisis Ad Hoc Committee" to address the escalating domestic fuel prices.
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President Rodrigo Duterte has asked Congress to review the oil deregulation law to allow government intervention during oil price spikes, a call echoed by Senate President Vicente Sotto III who expressed willingness to hold a special session for the review.
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