00:00News and receipts of oil price increases are coming left and right since the effect of the Middle East tension
00:06reached our country.
00:07With the government having no authority to control it, the question of many is, why?
00:12This due to an existing law called Oil Deregulation Law, which gives oil companies the freedom to set oil prices
00:19based on market factors.
00:21So the government is looking into the possible amendment of this law.
00:25RR Tubice tells us more.
00:29The government is now studying immediate measures to mitigate the impact of detentions in the Middle East on fuel prices
00:35in the country.
00:36According to President Ferdinand R. Marcus Jr., all possible options are now being reviewed, including the possible amendment of the
00:42Oil Deregulation Law.
00:43He made the statement following his speech at the 47th commencement exercises of the Philippine National Police Academy or PNPA.
00:50What we are focused on now is immediate.
00:54You know, we will have to amend the older regulation. Mahaba pang diskusyon yan. I don't know when it will
00:59come out.
01:00So we are focused right now on the immediate, what we can do immediately.
01:04Kagaya nung sinabi ko sa statement ko, kung ano yung maaari nating paratingin kaagad na tulong sa taong bayan,
01:12yun ang aming ginagawa, yun ang pinamin pinag-iisipan ngayon.
01:15Kahit lahat ng maaaring gawin, kinitignan namin, pinag-aaralan namin.
01:21Meanwhile, the President assured that the ASEAN Summit will push through as scheduled.
01:25This after consultations with counterparts from other member states with discussions set to focus on oil, food, and migrant workers.
01:32The question that I asked them is very simple.
01:37Would you like to postpone the ASEAN Summit?
01:40The consensus that we came to is that it is precisely now that we must coordinate our efforts.
01:48So that is what we are going to do.
01:50Ipapatuloy natin yung ASEAN Summit.
01:52Ngunit, ito, the way that we describe it is that we have, it is a bare bones ASEAN Summit.
02:01It's just, we will not talk about, we will be talking about three main subjects.
02:05About the supply of petroleum and petroleum products, about the supply of food and the price of food, and migrant
02:15workers.
02:16It will be over a period of maybe a day and a half, imbis na yung mahaba.
02:21Sabi ko, baka hindi naman ngayon ng panahon na magpanasado natin, masyadong elaborate ang ating preparasyon.
02:31Ang kailangan talaga sa panahon na ito ay makapag-usap kami mga leader upang malaman natin kung ano, what do
02:38we do in the future, what do we do for the rest of the year.
02:41Meanwhile, the President also reminded the graduates to uphold integrity, discipline, and compassion in their duties,
02:47especially amid emerging challenges, insecurity, and criminality, not only in the country but around the world.
02:53He added, serving the country is not only about enforcing the law, but also about upholding justice and respecting human
02:59rights.
02:59RR Tubise from the National TV Network for a New and Better Philippines.
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