NATIONAL
Advocates Philippines
Marcos: PH Oil Supply Stable As Gov't Seeks New Sources Amid Middle East Tensions
Screengrab from RTVM
President Ferdinand Marcos Jr. assured the public that the Philippines currently has sufficient oil supply despite rising global concerns triggered by ongoing tensions in the Middle East.
Speaking to members of the Philippine media delegation in New York, Marcos said the country’s fuel inventory remains stable, with additional shipments already on the way.
“We are in good shape,” the President said, noting that the Philippines has oil supplies already in the country and more shipments currently in transit.
According to the President, the country’s fuel reserves are estimated to last around 50 to 60 days, giving the government time to monitor developments in global markets and prepare contingency measures.
Looking for Alternative Suppliers
To prevent possible disruptions, Marcos said the government has begun exploring additional sources of petroleum beyond the Philippines’ usual suppliers.
“We are talking to many other countries,” he said, explaining that officials are expanding potential supply options in case tensions in the Middle East affect global shipping routes or production.
Energy officials are also reviewing supply routes to ensure shipments already en route are not passing through high-risk areas.
Impact on Prices
While supply remains stable, Marcos acknowledged that rising global oil prices could still affect consumers in the Philippines.
Higher petroleum costs often lead to increased transportation expenses and higher prices for goods and services.
“It’s difficult to say how long the price increases will last because it depends on how the situation in the Middle East develops,” the President said.
Possible Government Support
To cushion the impact, the administration is studying possible assistance programs for sectors that may be hit hardest by rising fuel prices.
These may include subsidies or targeted support for public transportation drivers, farmers, and fisherfolk.
Government agencies have also been directed to adopt energy-saving measures while officials continue monitoring global oil market developments.
For now, Marcos said the government’s priority is ensuring the country remains prepared while keeping a close watch on the evolving international situation.
Speaking to members of the Philippine media delegation in New York, Marcos said the country’s fuel inventory remains stable, with additional shipments already on the way.
“We are in good shape,” the President said, noting that the Philippines has oil supplies already in the country and more shipments currently in transit.
According to the President, the country’s fuel reserves are estimated to last around 50 to 60 days, giving the government time to monitor developments in global markets and prepare contingency measures.
Looking for Alternative Suppliers
To prevent possible disruptions, Marcos said the government has begun exploring additional sources of petroleum beyond the Philippines’ usual suppliers.
“We are talking to many other countries,” he said, explaining that officials are expanding potential supply options in case tensions in the Middle East affect global shipping routes or production.
Energy officials are also reviewing supply routes to ensure shipments already en route are not passing through high-risk areas.
Impact on Prices
While supply remains stable, Marcos acknowledged that rising global oil prices could still affect consumers in the Philippines.
Higher petroleum costs often lead to increased transportation expenses and higher prices for goods and services.
“It’s difficult to say how long the price increases will last because it depends on how the situation in the Middle East develops,” the President said.
Possible Government Support
To cushion the impact, the administration is studying possible assistance programs for sectors that may be hit hardest by rising fuel prices.
These may include subsidies or targeted support for public transportation drivers, farmers, and fisherfolk.
Government agencies have also been directed to adopt energy-saving measures while officials continue monitoring global oil market developments.
For now, Marcos said the government’s priority is ensuring the country remains prepared while keeping a close watch on the evolving international situation.
Mar 11, 2026
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