Marcos: Flight groundings possible due to fuel shortage
MANILA, Philippines — President Ferdinand Marcos Jr. said that grounding airplanes is a "distinct possibility” amid soaring oil prices caused by the Iran-Israel war.
Marcos, in an exclusive interview with Bloomberg, said that there is a scarcity of crude oil supplies, adding that refining takes longer time.
“We will have to depend on what is already readily available,” Marcos said.
Marcos said that several airports in other countries have already limited refueling for foreign planes. If a Philippine airplane goes to another country, it will have to bring enough fuel on its own to return.
Asked if the Philippines will have to ground planes, Marcos said it was not out of the question.
“We’re hoping not, but it’s a possibility. It’s a distinct possibility,” he said.
Inflation in the Philippines is expected to increase amid the ongoing fuel crisis, with Middle East tensions dragging on for several weeks.
Fuel prices in the Philippines have surged by double digits per liter—a record high. The government is rushing to implement several mitigation measures, including the distribution of fuel subsidies and the implementation of discounts on tolls and trains.
- Latest
- Trending
