Manila: The Philippines' chairship of the Association of Southeast Asian Nations (ASEAN) this year provides an opportunity to advance a regional fuel-sharing mechanism amid global oil supply uncertainties, Senator Francis Escudero said Tuesday.

According to Philippines News Agency, Escudero urged the government to push for the completion of the ASEAN Petroleum Security Agreement (APSA), a proposed framework that would allow member states to supply petroleum to neighbors facing at least a 10 percent shortfall in domestic fuel needs. The senator emphasized that the Philippines holds a significant position to lead efforts toward strengthening regional energy security as oil prices remain volatile due to ongoing geopolitical tensions.

Escudero highlighted the importance of accelerating APSA's completion, enabling ASEAN to establish its own mechanism for emergency fuel supply, which would be activated when a member state experiences a shortfall of at least 10 percent. The APSA aims to stabilize energy supply, prevent economic disruptions, and reinforce ASEAN's collective resilience during crises, similar to fuel-sharing mechanisms implemented by members of the International Energy Agency.

He pointed out that oil-producing ASEAN members such as Brunei Darussalam, Indonesia, and Malaysia would play a crucial role in ensuring that emergency fuel supplies are available and delivered when needed. Escudero stressed the urgency of a coordinated regional response as tensions in the Middle East continue to affect global oil markets, emphasizing the need for ASEAN to act as a unified entity.

Escudero also mentioned that the Philippine chairship presents an opportunity to lead the region toward greater energy resilience and stronger cooperation in addressing external shocks. He affirmed that this is a chance for the Philippines to guide ASEAN toward energy resilience with solidarity and shared purpose.