Photo credit: PCO

Leaders of the Association of Southeast Asian Nations (ASEAN) are now discussing the creation of a regional fuel reserve system aimed at protecting member-countries from possible fuel shortages and supply disruptions during global crises.

President Ferdinand Marcos Jr. revealed the proposal during a press conference at the International Media Center in Cebu after the conclusion of the 48th ASEAN Summit and Related Meetings.

According to Marcos, the proposed mechanism would work similarly to ASEAN’s emergency rice reserve program, where member-states can help each other during shortages and emergencies.

The President explained that ASEAN countries currently face different energy situations, with some nations having excess fuel supplies while others experience shortages. Because of this, regional leaders are exploring ways to balance resources and establish a shared emergency reserve.

Marcos said the proposed reserve could include various petroleum products, from crude oil to refined fuels such as jet fuel, giving member-countries immediate access to emergency supply when major disruptions occur.

He pointed out that global conflicts, geopolitical tensions, or the closure of critical trade routes like the Strait of Hormuz could severely affect fuel deliveries across the region.

The Philippine leader stressed that while countries will continue securing their own fuel sources individually, ASEAN is also pushing for stronger regional cooperation to ensure member-states have backup supply options during emergencies.

Marcos expressed hope that large-scale disruptions would not happen again, but emphasized that preparing ahead through cooperation is necessary to strengthen the region’s long-term energy security.