ASEANEWS HEADLINE-WORLD OIL CRISIS | MANILA: Over 300,000 diesel barrels arrive in Philippines
IT HAS ARRIVED: This message, along with an image (right), was posted by Energy Secretary Sharon Garin on Facebook yesterday as she announced the arrival of the PNOC-EC shipment from Malaysia of 329,000 barrels of diesel. STAR / File
300,000 barrels ng diesel mula Malaysia, nakarating na sa Pilipinas
1.5 million more expected in coming weeks
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MANILA, Philippines — The Philippines received yesterday 329,000 barrels of diesel from Malaysia, forming the second part of diesel deliveries secured by the Philippine National Oil Co. from suppliers outside the Middle East.
Last March 26, the country received 142,000 barrels of diesel from Japan. Shipments totaling over 1.5 million barrels of diesel are set to arrive in the coming weeks to help strengthen the country’s fuel supply buffer, according to the Department of Energy (DOE).
The government hopes to secure up to two million barrels or about 318 million liters of diesel from sources outside the Middle East, to avert potential supply shortages.
“This latest shipment from Malaysia further strengthens our supply position at a time when external risks remain and the situation in the Middle East continues to evolve,” DOE Secretary Sharon Garin said in a statement.
The country expects around 600,000 more barrels of diesel, with half arriving in mid-April from India and North Asia and the rest by the end of April from Oman via Singapore.
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One million barrels are good for five days, with average daily diesel demand currently around 204,000 barrels.“The government is taking deliberate and forward-looking steps to build up available supply, support essential sectors and help ensure that the country remains prepared for possible disruptions in the global oil market,” Garin stressed.
As a net importer, the Philippines quickly feels the impact of supply disruptions in the Middle East, its main source of crude oil.
Data from the DOE-Oil Industry Management Bureau showed that as of April 3, the country has maintained a fuel inventory for 50.42 days, with diesel lasting 47.26 days.
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DOE: Up to 300,000 barrels of diesel to be delivered to PH next week | ANC
Headstart: The Philippines received a fresh supply of diesel even as the Middle East conflict continued to choke global oil distribution. Energy Secretary Sharon Garin admitted that the country needed to do more to secure its fuel stockpile and cope with record-high fuel prices.
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In a Facebook post announcing the diesel arrival, Garin made some observations about the raging geopolitical tensions gripping nations.
“Such a complex world, isn’t it?” she said. “Someone from the Americas starts a war in the Middle East and causes suffering in Asia.”
Former energy secretary Jericho Petilla said over radio dzRH that the Philippines should explore transitioning into a “hybrid” form of oil deregulation, as other countries are doing.
“They are deregulated; the players are allowed to price and purchase from outside and sell,” Petilla, now the governor of Leyte, said yesterday. “But I hope the government will have a gas station and the government imports. They will compete with the private sector.”
“At least, if the government is there, the price is right. No one will cheat because there is a guide. The government will say, ‘You know, the price is like this. We earn, so why are you high?’” he added.
Meanwhile, motorists may finally catch a break after five straight rounds of hefty price hikes, as diesel could see a double-digit rollback next week amid a fragile ceasefire in the Middle East.
An industry source indicated a potential price cut of P8.80 to P10.80 per liter for diesel, while gasoline prices may drop by up to P1.50 per liter, or may be kept steady.
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If the diesel price rollback pushes through, it would be the first in more than three months or since Dec. 30, 2025.
Final price adjustments will be announced tomorrow and will take effect the following day.
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