Communications Undersecretary and Palace Press Officer Claire Castro on Monday clarified that the Philippines is not facing an oil crisis, stressing that supply remains sufficient.
Castro cited Energy Secretary Sharon Garin, who earlier said that declaring an oil crisis is not being considered at this time since the country’s fuel reserves are stable.
She explained that the Department of Energy and the government are working to ensure uninterrupted supply, pointing to ongoing negotiations for 440,000 barrels of oil and another 600,000 barrels that may be imported.
She emphasized that the issue lies mainly in rising prices due to developments in the Middle East, not in supply shortages.
“Sa ngayon po, wala pa tayong maaaring tawaging oil crisis sa bansa,” Castro said.
Castro added that the government continues to exert efforts to prevent any disruption in fuel availability, underscoring that the situation does not yet amount to a crisis.