NATIONAL
Advocates Philippines
Palace, Business Groups Unite Against Fuel Price Surge
Photo credit: Office of the Executive Secretary
Officials from Malacañang Palace met with top business leaders and oil executives this week in a bid to cushion the impact of rising fuel prices on the economy.
The April 6 meetings brought together representatives from nine business groups and executives from 14 petroleum companies, to tackle concerns over supply, inventory, and escalating costs. The discussions come as global tensions continue to drive up oil prices, affecting transport, goods, and overall productivity.
Finance Secretary Ralph Recto described the talks as a way to assess the country’s fuel readiness. “In the latter, we took a dipstick reading on our country’s fuel tank,“ Recto said, noting that current reserves can last up to 50 days, based on data shared by Energy Secretary Sharon Garin.
He added, “And we are hopeful that oil diplomacy should not only keep our stocks replenished, but build them up.”
Recto emphasized that the government has been actively consulting stakeholders since the onset of the crisis. “That is why since Day One of this conflict, the President’s instruction was to reach out to business, civic leaders, local government executives and get their views, and many, in fact, have been inputted in our response.”
During the dialogue, business leaders raised concerns about logistics bottlenecks, which further drive up costs. Proposals included opening container yards outside Metro Manila and reviewing truck ban hours—both of which have been endorsed for immediate government action.
Participants highlighted the heavy role of diesel in transport costs, noting that it accounts for about 70% of movement expenses. “Delay is cost passed on to the consumers,” one participant said.
Calls were also made to streamline online transactions and reduce local government fees to improve efficiency and cut energy use. Recto assured that these concerns would be addressed swiftly, adding that unnecessary checkpoints affecting perishable goods transport should also be removed.
“With or without this conflict, we should be removing friction costs across the supply chain. Kasama na dyan yung mga hindi kinakailangang check point lalo na sa mga biyahero ng mga pagkaing mabilis mabulok,” Recto said.
The Finance chief also urged the private sector to do its part by conserving energy, adopting flexible work setups, and avoiding unfair pricing practices. “This is a time for partnership of all, and not profiteering of the few,“ he said.
He assured that targeted assistance will continue for vulnerable sectors, including individuals and small businesses, as the government rolls out measures to stabilize the situation.
Key agencies such as the Department of the Interior and Local Government and the Philippine Export Zone Authority have been directed to act on the proposals, which have been elevated as official directives from the Office of the President.
The April 6 meetings brought together representatives from nine business groups and executives from 14 petroleum companies, to tackle concerns over supply, inventory, and escalating costs. The discussions come as global tensions continue to drive up oil prices, affecting transport, goods, and overall productivity.
Finance Secretary Ralph Recto described the talks as a way to assess the country’s fuel readiness. “In the latter, we took a dipstick reading on our country’s fuel tank,“ Recto said, noting that current reserves can last up to 50 days, based on data shared by Energy Secretary Sharon Garin.
He added, “And we are hopeful that oil diplomacy should not only keep our stocks replenished, but build them up.”
Recto emphasized that the government has been actively consulting stakeholders since the onset of the crisis. “That is why since Day One of this conflict, the President’s instruction was to reach out to business, civic leaders, local government executives and get their views, and many, in fact, have been inputted in our response.”
During the dialogue, business leaders raised concerns about logistics bottlenecks, which further drive up costs. Proposals included opening container yards outside Metro Manila and reviewing truck ban hours—both of which have been endorsed for immediate government action.
Participants highlighted the heavy role of diesel in transport costs, noting that it accounts for about 70% of movement expenses. “Delay is cost passed on to the consumers,” one participant said.
Calls were also made to streamline online transactions and reduce local government fees to improve efficiency and cut energy use. Recto assured that these concerns would be addressed swiftly, adding that unnecessary checkpoints affecting perishable goods transport should also be removed.
“With or without this conflict, we should be removing friction costs across the supply chain. Kasama na dyan yung mga hindi kinakailangang check point lalo na sa mga biyahero ng mga pagkaing mabilis mabulok,” Recto said.
The Finance chief also urged the private sector to do its part by conserving energy, adopting flexible work setups, and avoiding unfair pricing practices. “This is a time for partnership of all, and not profiteering of the few,“ he said.
He assured that targeted assistance will continue for vulnerable sectors, including individuals and small businesses, as the government rolls out measures to stabilize the situation.
Key agencies such as the Department of the Interior and Local Government and the Philippine Export Zone Authority have been directed to act on the proposals, which have been elevated as official directives from the Office of the President.
Apr 8, 2026
We are dedicated storytellers with a passion for bringing your brand to life. Our services range from news and media features to brand promotion and collaborations.
Interested? Visit our
Contact Us page for more information. To learn more about what we offer, check out our latest article on services and opportunities.
