President Ferdinand Marcos Jr. said on Friday that proposals to amend or repeal the Oil Deregulation Law are being considered, but stressed that the government is prioritizing immediate relief measures to address rising fuel prices.
“As I said before, nothing is being discounted… Lahat ng maaaring gawin… ay talagang pinag-uusapan namin. But what we are focused now is immediate,” Marcos said in an interview.
The President acknowledged the need to revisit the decades-old policy but noted that any legislative changes would take time.
“You know, we would love to amend the Oil Deregulation, mahaba pa ‘yung diskusyon ‘yan. I don’t know when it will come out,” he said.
For now, Marcos emphasized that the administration is concentrating on measures that can be implemented right away to ease the burden of fuel price hikes caused by tensions in the Middle East.
He added that all possible policy options remain under review.
“Kahit lahat ng maaaring gawin tinitingnan namin, pinag-aaralan namin,” he said.
The Oil Deregulation Law, enacted in 1998, restricts direct government intervention in fuel pricing, leaving authorities to rely on subsidies, tax adjustments, and supply-side measures during periods of price volatility.
The President’s remarks come as the government continues to explore ways to stabilize fuel supply and shield consumers from global market shocks.