DECLARING a state of economic emergency is “unnecessary at this point” despite the continuous increase in prices of petroleum products brought about by the conflict between Russia and Ukraine, said Energy Secretary Alfonso Cusi Tuesday, March 8, 2022.Cusi assured that the Philippine government is doing “everything” to address the looming oil price hike.“Even if you declare an emergency, what would you do with the emergency?” he said during a virtual press briefing Tuesday.“It’s a total effort of everybody to face the problem. Hopefully, this problem will not last long,” he added.As part of the country’s effort to strengthen domestic economy amid the ongoing conflict in Ukraine, the Department of Energy has called for the Congress to review the oil deregulation law, particularly the provisions on unbundling the price and the inclusion of the minimum inventory requirement of the law, as well as giving the government intervention powers or authority to intervene when there is a spike and/or prolonged increase on prices of oil products.Fuel firms implemented the biggest price hike so far for this year, adding P5.85 per liter of diesel, P3.60 per liter of gasoline, and P4.10 for every liter of kerosene.On Monday, March 7, lawmakers urged President Rodrigo Duterte to declare a state of economic emergency and to call for a special session of the Congress to address the looming fuel price hike crisis.“Ang pinaka mabilis diyan is for the President to declare a state of economic emergency arising from the fuel crisis and therefore to enable him to use the calamity fund or for local government units to use their calamity funds to provide relief to tricycle drivers, farmers, and fisherfolk,” House ways and means committee chairman Albay Representative Joey Salceda said.“We need to draw a line on the sand. If by March 15, it is still above $100, the President should call for a special session. It is his moral obligation to the people to provide relief because that means almost 75 days of suffering already…So without relief, any form of relief from government, so I think it’s his moral obligation already to call for a special session,” he added.For now, in order to somehow lessen the impact of the oil price hike, Cusi urged the public to lessen their trips and conserve energy consumption.“The demand here in the Philippines must also go down… Oil companies, they will be forced to regulate their oil pricing. That’s the law of supply and demand. What is within our hands is the efficient use of energy, there I encourage you,” Cusi said. (SunStar Philippines)