A reported two-week ceasefire between the United States and Iran could open a window for the Philippines to boost its fuel supply and ease pressure on the domestic market, President Ferdinand Marcos Jr. said Wednesday, April 8.
Following talks with key officials, the government is moving to maximize the temporary truce by ramping up fuel imports and pushing through shipments that were previously delayed due to tensions in the region.
“We will take full advantage of the two weeks to increase our supply as much as possible,” the President said, expressing hope that the ceasefire would be extended if negotiations progress.
Marcos also noted that arrangements are in place to ensure the safe passage of Philippine-flagged vessels, including those carrying fuel supplies bound for the country, allowing deliveries to proceed amid easing hostilities.
Despite this, the President cautioned that the short pause may not be enough to immediately lower global oil prices, but said a longer ceasefire could eventually lead to better market conditions.IMT
