PRESIDENT Ferdinand R. Marcos Jr. has reassured the Filipino public that the country maintains sufficient crude oil inventory to meet domestic demand until the end of June this year, easing concerns over potential supply shortages amid rising geopolitical tensions.
In his latest update, the President emphasized that current stock levels are stable and adequate to sustain the nation’s energy requirements for the remainder of the month, ensuring that businesses, transport sectors, and households will not face disruptions in fuel availability.
While supply remains secured for the short term, the Chief Executive acknowledged that the government remains on full alert and closely monitoring developments in the Middle East, where ongoing conflict continues to influence global market trends and fuel pricing.
He noted that volatility in the international oil market remains a key challenge, as tensions in the region directly affect production and shipping routes, potentially driving up costs for importing nations like the Philippines. Despite these external pressures, authorities are actively coordinating with industry stakeholders and energy agencies to mitigate risks and explore measures to cushion the economy from sharp price hikes.
The President’s assurance comes as part of the administration’s continuous efforts to balance energy security and economic stability, ensuring that the country remains resilient against external shocks. He reiterated that the government is prepared to implement necessary steps and policy adjustments should the situation evolve, while also working toward diversifying supply sources and strengthening the country’s energy resilience in the long run. For now, the public is advised that supply levels are well-managed, and the administration remains committed to protecting the welfare of consumers amid uncertain global conditions.
