JV backs gov’t move to secure safe passage in Strait of Hormuz

Senator JV Ejercito on Saturday welcomed the administration’s efforts to secure safe passage for Philippine-flagged vessels and Filipino seafarers through the Strait of Hormuz, calling it a “very welcome development.”

Ejercito said the move would help ensure the steady delivery of critical oil and fertilizer supplies to the Philippines, which relies heavily on imports from the Middle East.

“This is a very welcome development. This will greatly help replenish our petroleum reserves,” he said, while recognizing the efforts of President Ferdinand R. Marcos Jr. and the Department of Foreign Affairs (DFA) in “opening diplomatic channels.”

The senator expressed hope that the arrangement would materialize and be sustained, noting the country’s vulnerability to global supply disruptions and price shocks.

The Philippines imports nearly all of its crude oil, making domestic prices sensitive to developments abroad. 

Ejercito said stabilizing supply routes could help ease oil price volatility and its ripple effects on transport fares, food costs, and other basic commodities.

He also reiterated his call to suspend fuel excise taxes to cushion the impact on consumers.

“Balansehin natin para mapanatiling gumagalaw ang mga industriya at mga sektor gaya ng agrikultura at transportasyon, at para maiwasan ang pagkaparalisa ng ating ekonomiya (Let us strike a balance to keep industries and sectors such as agriculture and transportation moving, and to prevent our economy from grinding to a halt),” he said, stressing the need to prevent economic slowdown.

Ejercito is the principal author of Republic Act No. 12316, which allows the President to reduce or suspend fuel excise taxes, and has filed a resolution urging a whole-of-government approach to address oil supply disruptions.