Manila, March 31 (AseanAll) — The country is assured of a 51-day oil supply as the government relentlessly works to secure the Philippines fuel stocks in the midst of the ongoing conflict in the Middle East, Philippine President Ferdinand R. Marcos Jr. said on March 31, 2026.
“Nag-order na ang PNOC-EC ng 1.04 milyong bariles ng diesel. Mayroon ding 142,000 na bariles na [na-deliver] ngayong linggo. Ang natitira ay darating sa buwan ng Abril,” Marcos said in an address to the nation.
“Nai-release na ng DBM ang PhP20 bilyon para sa procurement ng hanggang dalawang milyong bariles ng karagdagang langis. Sampung araw ito na dagdag sa ating buffer stock. Sa ngayon, may 51 days tayo na supply dito sa bansa,” the President added.
Marcos Jr. earlier said the Philippines has sufficient crude oil supply until June 30 this year.
Marcos enumerated the measures undertaken to address the energy emergency, such as the issuance of Executive Order No. (EO) 110, authorizing the Department of Energy (DOE), Philippine National Oil Co. (PNOC), and Philippine National Oil Co.-Exploration Corp. (PNOC-EC) to act quickly on oil procurements.
The President likewise signed on March 25, Republic Act No. 12316, granting him the authority to suspend the imposition of excise tax on oil if needed.
The chief executive said the Development Budget Coordination Committee (DBCC) will meet this week to present its excise tax assessment.
EO 110 authorized the DOE to recommend Energy Regulatory Commission (ERC) action on the operation of the Wholesale Electricity Spot Market (WESM) to monitor electricity prices and to prevent price fluctuations.
“Simula March 26, pansamantalang sinuspinde na ng ERC ang WESM. Ibig sabihin, ipatutupad na ang optimal dispatch ng mas murang energy source tulad ng renewable,” said the President. “Magkakaroon din ng kontrol ang gobyerno sa presyuhan sa WESM. Kasalukuyan itong inaayos na ng ERC.”
As to the long-term solution, the President mentioned the successful drilling and testing of the Camago-3 well, which can produce up to 60 million cubic feet of gas per day, benefiting Filipino power consumers.
The government also extended support to affected workers and operators in the transport sector, as well as ordinary commuters.
These include a 50 percent discount on LRT-2 and MRT-3 fares, benefiting more than 12 million additional passengers. “Libreng Sakay” in Metro Manila, Metro Cebu, and Metro Davao is also being implemented, the chief executive said.
At the same time, a temporary toll discount is being extended to jeepney, bus, and freight food transport in NLEX, SLEX, and STAR, the President said, announcing that, starting April 15, ports will collect PhP1 RORO terminal fee for vehicles carrying agricultural products.
The government, Marcos said, allocated PhP2.5 billion in fuel subsidies to more than 1.4 million driver-beneficiaries and unit operators. Some 155 drivers and 55,252 unit operators received a fuel subsidy amounting to PhP300 million.
Also, more than 256,000 transport workers in Metro Manila received PhP5,000 cash assistance. The government is readying PhP1.28 billion additional support, with the nationwide handover commencing April 6, the President said.
