The national government has secured a 51-day oil supply buffer as it intensifies efforts to stabilize fuel availability and prices amid the ongoing conflict in the Middle East, President Ferdinand R. Marcos Jr. announced on Tuesday.
The President disclosed that the Philippine National Oil Company–Exploration Corporation (PNOC-EC) has ordered 1.04 million barrels of diesel, with an initial 142,000 barrels already delivered this week. The remaining volume is expected to arrive throughout April.
To further strengthen the country’s energy reserves, the Department of Budget and Management (DBM) has released ₱20 billion for the procurement of up to two million additional barrels of oil. This move is projected to extend the country’s buffer stock by an additional 10 days.
“At present, we have secured a total of 51 days’ worth of fuel supply,” President Marcos said, reaffirming earlier assurances that crude oil reserves are sufficient through June 30.
In response to global supply uncertainties, the President outlined key measures under Executive Order No. 110, which authorizes the Department of Energy (DOE), PNOC, and PNOC-EC to expedite oil procurement.
Additionally, Republic Act No. 12316, signed on March 25, grants the President authority to suspend excise taxes on oil products when necessary. The Development Budget Coordination Committee (DBCC) is set to convene this week to assess potential implementation.
To stabilize electricity costs, the Energy Regulatory Commission (ERC), upon DOE recommendation, has temporarily suspended operations of the Wholesale Electricity Spot Market (WESM) starting March 26. This measure allows for the prioritization of lower-cost energy sources, including renewables, while enabling tighter government oversight of electricity pricing.
The administration is also pursuing sustainable energy initiatives, highlighted by the successful drilling and testing of the Camago-3 gas well. The facility is expected to produce up to 60 million cubic feet of natural gas per day, contributing to long-term energy security and more affordable electricity for consumers.
To cushion the impact of rising fuel costs, the government has rolled out a series of support measures:
- A 50% fare discount on LRT-2 and MRT-3, benefiting over 12 million passengers
- Expansion of the “Libreng Sakay” (Free Ride) program across Metro Manila, Metro Cebu, and Metro Davao
- Temporary toll discounts for public utility vehicles and freight transport on major expressways (NLEX, SLEX, STAR)
- A reduced ₱1 RORO terminal fee for vehicles transporting agricultural goods, effective April 15
The government has also allocated ₱2.5 billion in fuel subsidies for more than 1.4 million drivers and transport operators. To date, ₱300 million has been distributed to beneficiaries.
Further financial assistance includes ₱5,000 cash aid provided to over 256,000 transport workers in Metro Manila, with an additional ₱1.28 billion in support scheduled for nationwide distribution beginning April 6.
President Marcos reaffirmed the government’s commitment to safeguarding the country’s energy security while mitigating the economic impact of global developments.
“We will continue to act decisively to ensure stable fuel supply, manageable prices, and sustained support for our people,” the President said.
