P20 Billion Fuel Buffer Greenlit as Marcos Team Tries to Calm Oil Shock
The Marcos administration has approved a P20-billion emergency fund for the Department of Energy to help secure fuel supply and soften the impact of the country’s worsening oil crunch.
Philstar reported that the money will be released through a special allotment release order and notice of cash allocation, with the Department of Budget and Management saying the package is meant to stabilize prices, protect transport, and keep essential services running.
The funding will come from the Malampaya Gas Fund under the Special Account in the General Fund and will support the Emergency Energy Security Program. Officials said the program is meant to stabilize fuel availability, reduce supply shortages, and help cushion the blow of volatile world oil prices.
DBM said the budget will cover procurement of diesel, gasoline, and liquefied petroleum gas, while implementation will be handled by Philippine National Oil Co.-Exploration Corp., which has already started procurement work. Energy Secretary Sharon Garin earlier said the country still had around 45 days of fuel supply as government works to expand buffer stocks.
But the pressure on the ground is already clear. The report said 415 gasoline stations nationwide had stopped operations due to supply constraints, while lawmakers also began floating longer-term fixes including price controls and a possible revival of the Oil Price Stabilization Fund.
Source: https://www.philstar.com/headlines/2026/03/26/2516876/p20-billion-doe-emergency-fund-okd
