Faustino “Bojie” Dy III urged lawmakers in the House of Representatives of the Philippines to advance legislative and policy initiatives aimed at shielding Filipinos from the possible effects of rising oil prices linked to tensions in the Middle East.
In a statement, House Speaker Bojie Dy said Congress intends to prioritize bills and policy actions that could help soften the impact of higher fuel costs on key sectors of the economy, including workers, commuters, farmers, and small businesses. He added that lawmakers and House committees are working to ensure that appropriate responses are in place to reduce the pressure of global economic shocks on Filipino households.
Dy said international developments highlight how conflicts abroad can quickly influence the Philippine economy, particularly through higher oil prices that often lead to increased transportation fares, food costs, and other everyday expenses.
He acknowledged that fuel price increases typically raise concerns among Filipinos because of their direct effect on household budgets. According to Dy, families striving to meet daily needs are often among those most affected when oil prices climb.
Despite these challenges, Dy said Congress remains committed to protecting the welfare of the public. He noted that the House will continue pursuing laws and policies designed to strengthen the economy, safeguard livelihoods, and promote the well-being of Filipino citizens.
Dy also emphasized the need for unity as the country confronts global uncertainty. He said Filipinos have faced and overcome major challenges in the past, expressing confidence that the same resilience and cooperation will help the nation navigate the economic pressures brought by rising fuel prices and global instability.
He added that government institutions will continue working to steer the country through these challenges while ensuring that policies are in place to help protect Filipino families from the impact of potential oil price increases.
