PH's fuel supply seen to last until mid-May

National

THE Department of Energy (DOE) said the country’s fuel supply is expected to last until the second week of May, with one million barrels of fuel set to arrive in the coming weeks.

Per a report by Philstar, DOE Secretary Sharon Garin said 400,000 barrels have already been secured from a Southeast Asian country, while talks are ongoing to purchase an additional 600,000 barrels from outside the region.

The Philippine National Oil Company (PNOC) is leading the negotiations and will use the fuel to strengthen the country’s reserve supply. Fuel companies are also allowed to buy from PNOC if their stocks run low.

The government is set to spend around ₱10 billion for the one million barrels, which may last about five days. PNOC is also planning to spend ₱20 billion to secure two million barrels for additional reserves.

The move comes as global supply is affected by tensions in the Middle East, particularly after Iran blocked the Strait of Hormuz, a key route for global oil shipments, following attacks involving the United States and Israel.

The DOE and PNOC are working with the Department of Foreign Affairs and Department of Trade and Industry to secure more fuel through international partners.

Officials said fuel supply remains at a “comfortable level,” but experts warned that the government should be ready to prioritize key sectors in case of shortages. (Bhea Bianca S. Sadaya, CTU-TC BAEL-ELSD Intern)