DOE Dismisses Fuel Rationing Calls Amid Oil Import Reliance
The Department of Energy (DOE) has ruled out implementing fuel rationing measures in the Philippines, citing the country's reliance on imported oil. Energy Secretary Sharon Garin stated that such a move would only be considered if there was an unexpected surge in demand or excessive storage by consumers and businesses.
Garin noted that current conditions do not warrant intervention, and that supply pressures could be mitigated through negotiations with suppliers from other countries at a higher cost. The government is also exploring alternative sources of fuel, including a state-to-state arrangement to procure oil from Russia, and plans to import diesel to boost available stocks.
The Philippine National Oil Company will sell the imported diesel at cost to private oil firms to help stabilize supply. Fuel inventories are expected to last until April 30, with orders for May deliveries still being finalized. However, fuel prices continue to rise due to global market volatility, reaching as high as P100 per liter.