The Bureau of Customs (BOC) assured the public that the Philippines has enough petroleum supply for about two months despite ongoing tensions in the Middle East.
Commissioner Ariel Nepomuceno said DOE data shows the country has prepared reserves while monitoring the impact of the conflict.
“Yung supply natin mula sa DOE, halos may pang dalawang buwan na supply,” Nepomuceno said in a radio interview.
The statement comes amid fears of sharper fuel price hikes next week compared to earlier projections. Based on DOE’s minimum estimates, petroleum products may increase by:
- Diesel: ₱19 per liter
- Gasoline: ₱9 per liter
- Kerosene: ₱31 per liter
Nepomuceno added that the BOC is conducting inspections of oil company warehouses and depots to ensure there is no artificial shortage. The DOE has also intensified monitoring against hoarding and profiteering.
He noted that Middle East tensions could affect government revenue collections from oil, which currently generate between ₱330 billion to ₱410 billion annually in taxes.
The DOE earlier said it is preparing measures to cushion the impact of global supply disruptions and price volatility on Filipino consumers.