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EJ Macababbad - The Philippine Star
March 25, 2026 | 12:00am
Motorists refuel at a gas station along East Avenue in Quezon City on February 2, 2026.
STAR / Miguel De Guzman
MANILA, Philippines — With one million barrels of fuel expected to arrive in the coming weeks, Philippine fuel supply may last until the second week of May, according to the Department of Energy.
DOE Secretary Sharon Garin said the country has contracted 400,000 barrels of fuel from a Southeast Asian nation.
Negotiations are being finalized this week for the procurement of 600,000 more barrels from outside the region, she said.
State-run Philippine National Oil Co. (PNOC) is leading the negotiations. It will use the incoming supplies to beef up the country’s buffer stock.
Fuel companies have been authorized by the DOE to purchase from PNOC if their stocks run low.
Garin said the government will spend P10 billion for the one million barrels, estimated to last for about five days.
The PNOC is planning to spend P20 billion to buy two million barrels of reserve fuel.
Manila is racing to secure supplies, as Iran continues to block the Strait of Hormuz, through which one-fifth of the world’s oil passes.
Almost a month has passed since the United States and Israel attacked Iran.
The DOE and PNOC are working with the Department of Foreign Affairs and Department of Trade and Industry to connect with oil-producing countries through diplomatic channels and ensure fuel supply beyond the second week of May.
If fuel shortage occurs, the government should plan which sectors to prioritize, Makati Business Club chairman and Amber Kinetics chief executive officer Edgar Chua said.
Garin maintained that fuel stocks remain at a “comfortable level.” — Marc Jayson Cayabyab, Brix Lelis, Louella Desiderio
