Manila: The Philippines continues to have adequate fuel supply until the second week of May, as confirmed by Energy Secretary Sharon Garin. In an online briefing, Garin revealed that the country currently has an average of 45 days' worth of fuel supply, based on discussions with fuel companies.
According to Philippines News Agency, the breakdown of the current domestic fuel supply includes gasoline expected to last for 53.14 days, diesel for 45.82 days, kerosene for 97.93 days, jet fuel for 38.62 days, fuel oil for 61.49 days, and liquified petroleum gas for 23.51 days. The government is actively engaging with supplier countries such as South Korea, Japan, and China to ensure a continuous inflow of supply. Additionally, the Philippine National Oil Company (PNOC) has contracted around 400 barrels, with plans to order 600 more barrels this week, worth approximately PHP10 billion, to serve as a buffer for about a week's requirement.
Garin emphasized the importance of building a fuel buffer despite existing limitations and appealed to the public to refrain from hoarding and profiteering, as these actions could negatively impact the country's overall supply.
During the briefing, Garin also addressed the issue of fuel price increases. This week's price hikes are smaller compared to previous weeks, with gasoline increasing by PHP8 to PHP12 per liter, diesel by PHP15 to PHP18 per liter, and kerosene by PHP12 to PHP22 per liter. Despite the reduced rate of increase, the price hikes are still significant and are expected to impact the transportation industry, manufacturing sector, and household purchasing power due to developments in the Middle East.
To mitigate the effects of rising oil prices, Garin noted that several government agencies are implementing measures to assist their clients. The DOE's primary task remains ensuring the availability of supply, and Garin reassured that the current supply is sufficient and not yet at an alarming level, as it remains above the required 15-day threshold.
The briefing also highlighted the DOE's energy conservation efforts. DOE Energy Utilization Management Bureau director Patrick Aquino reported that energy audit teams have checked around 400 government offices nationwide, achieving an 87 percent compliance rate. The DOE's adoption of a compressed workweek and work-from-home arrangements, in line with Malacanang's directive, has resulted in a 40 percent reduction in energy consumption since March 9.
