President Ferdinand Marcos Jr. on Friday announced that the Philippines has secured sufficient crude oil supply to last until June 30, as the government moves to ensure stable petroleum availability amid ongoing volatility in the global market.
The President made the statement following his inspection of the newly opened NAIA Expressway exit in Pasay City, where he also revealed discussions with Ramon Ang, President and CEO of San Miguel Corporation, regarding the country’s fuel situation.
“Mas mahal ‘yung magpapasok ka ng refined na, na diesel na. At ika niya ay mayroon na tayong supply of crude oil, sufficient supply hanggang June 30.”
Marcos emphasized the economic advantage of importing crude oil for domestic refining instead of purchasing already refined petroleum products, noting the cost difference between the two approaches.
“At in terms of crude oil supply… pinapasok nila ang crude oil para i-refine dito sa Pilipinas. Iba ang presyuhan kapag nagpasok tayo ng krudo mismo… kaysa sa nagpasok tayo ng refined.”
Despite the current buffer, the President assured that efforts are ongoing to secure additional supply sources.
“Pero patuloy pa rin ang ating paghahanap ng supply.”
He also highlighted continued government support for commuters to mitigate the effects of rising fuel prices, particularly those linked to geopolitical tensions in the Middle East.
“Patuloy pa rin ang ating pagsuporta sa ating mga commuter para naman mabawasan ang bigat ng epekto nitong nagkakagulo sa Middle East.”
The administration has been actively diversifying supply channels and expanding fuel assistance programs as part of its broader strategy to address disruptions in the global oil market and protect consumers from price shocks.