SPEAKER Faustino “Bojie” G. Dy III expressed his strong support for President Ferdinand ‘Bongbong’ Marcos’ efforts to protect the Filipino people from the adverse effects of escalating global oil prices.
He emphasized that if Dubai crude oil prices surpass $80 per barrel, the impact will be felt directly by ordinary Filipinos—through higher fares, increased food costs, and other essential goods. To address this, the House of Representatives is prepared to coordinate with the Senate to review and, if necessary, amend existing laws. The goal is to grant the president sufficient authority to lower excise taxes during periods of significant oil price hikes.
Furthermore, Speaker Dy highlighted the importance of concrete action from all government agencies to promote energy conservation. With ongoing uncertainties in the Middle East, everyone must contribute to reducing energy consumption, including the legislative branch.
He concluded by emphasizing that, amid these challenges, the government must act with compassion, responsibility, and preparedness. The House is committed to fulfilling its role to ensure that the welfare of the Filipino people remains the top priority.
