Palace rejects call for gov’t takeover of oil industry as prices soar

2026-03-17 - 16:41

MANILA, Philippines — There is no need yet for President Ferdinand R. Marcos Jr. to invoke his emergency powers for the government to temporarily take over the country’s privatized oil industry to rein in the soaring prices of fuel, which have breached P100 mark for the first time in history, the Palace said on Tuesday. “At