Diesel Lifeline Muna: Gov't Secures 300,000-Barrel Fuel Buffer
The government is scrambling to keep diesel flowing as the global oil crisis keeps tightening, and the Department of Energy says a shipment of 300,000 barrels is due to arrive next week. Energy Secretary Sharon Garin said the stock was bought through the Philippine National Oil Co. from a Southeast Asian country that she did not name.
According to the report, PNOC plans to sell the diesel to oil companies at cost, while using available private storage space for the incoming supply. Garin said the arrangement is meant to help the country manage logistics even though the government no longer maintains its own fuel storage facilities under the old setup before oil deregulation fully took hold.
Still, hindi ito game-changer on its own. Garin said the Philippines burns through around one million barrels of fuel every five days, which means the incoming shipment is only a partial cushion while officials look for more sources. Talks are also continuing with other countries, including China and Russia, as the government tries to avoid a supply squeeze.
The DOE stressed that supply security is the priority, especially for transport, cargo movement, and other basic services that would be badly hit if diesel runs short. The same report said diesel prices could climb to around P130 per liter next week, while officials also warned that hoarding and panic buying could make the reserve timeline even shorter.
Business groups and trade officials, meanwhile, are urging calm and asking consumers not to panic buy as manufacturers try to hold the line on basic goods for at least the next 30 days. For now, the message from government is simple: mahal ang fuel, oo, pero mas delikado if the country runs low on actual supply.
Source: https://www.philstar.com/headlines/2026/03/21/2515838/government-buys-300000-barrels-diesel
