President Ferdinand R. Marcos Jr. reaffirmed the government’s commitment to stabilizing energy costs and improving national infrastructure during the official opening of the NAIA Expressway (NAIAX) – Westbound Off-Ramp to Terminal 3 on Friday.
Addressing the impact of geopolitical tensions in the Middle East on global oil prices, President Marcos emphasized that the administration is proactively seeking diverse sources of crude oil to ensure a steady, affordable supply for the country.
“We continue our search for supplies. We are steadfast in our support for our commuters to ease the burden caused by the disruptions in the Middle East,” the President stated.
The President revealed that the Philippines currently maintains a sufficient supply of crude oil through June 30. In a strategic move to lower costs, the administration is prioritizing the importation of crude oil for domestic refining rather than purchasing more expensive, pre-refined petroleum products.
“It is more costly to import refined diesel. By bringing in crude oil and refining it here in the Philippines, we can leverage better pricing structures,” President Marcos explained.
As part of these energy security efforts, the President confirmed ongoing discussions with Ramon S. Ang, President and CEO of Petron Corporation. The talks focused on streamlining fuel imports and maximizing the capacity of local refineries to provide relief at the pump for Filipino consumers.
The energy announcement coincided with the inauguration of the 320-meter NAIAX Westbound Off-Ramp, a critical project designed to:
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Decongest traffic surrounding the NAIA Terminal 3 area.
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Improve accessibility for travelers and transport logistics.
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Reduce travel time within the busy Pasay City airport corridor.
The President was joined at the ceremony by San Miguel Corporation Chairman Ramon Ang, DPWH Acting Secretary Vivencio Dizon, DOTr Acting Secretary Giovanni Lopez, and Pasay City Mayor Imelda Calixto-Rubiano.
Recent reports also indicate that the country’s diversification strategy is already in motion, with a shipment of over 700,000 barrels of Russian crude oil recently arriving to bolster national reserves.
