Manila: Measures to ensure the mindful use of petroleum products along with continued delivery of fuel have contributed to a steady domestic supply of oil products in the Philippines, Energy Secretary Sharon Garin said Monday.
According to Philippines News Agency, Garin stated in an online briefing that the gasoline supply remains adequate for around 54.47 days, diesel for 50.13 days, kerosene for 129.93 days, jet fuel for 60.69 days, fuel oil for 78.87 days, and liquified petroleum gas (LPG) for 40.26 days. She attributed the stable consumption levels partly to the work-from-home setup adopted by both government and some private firms, as well as consumers' efforts to limit fuel use. "It's been effective in making sure that we prolong and we protect our inventory levels," she said.
The government, through the Philippine National Oil Company-Exploration Corporation (PNOC-EC), has placed orders from abroad to maintain an adequate domestic supply, complementing those ordered by private oil firms. The first delivery of approximately 145,521 barrels arrived on March 26, followed by a second delivery of around 329,650 barrels on April 10. The next delivery is scheduled for Tuesday in Subic, Zambales, consisting of approximately 320,000 barrels, with an additional delivery expected on April 24 in Davao, comprising around 330,000 barrels. Furthermore, about 21,000 metric tons of LPG are anticipated to arrive between the third and fourth week of May.
Following President Ferdinand R. Marcos Jr.'s directive and the issuance of Executive Order (EO) 110, declaring a state of national energy emergency, the Department of Energy (DOE) and the PNOC-EC have been tasked with procuring additional oil supplies through a PHP20 billion allocation from the Department of Budget and Management (DBM). When asked about new diesel orders, Garin indicated that no new orders have been made yet. "Not yet. We still have our 1 million barrels or 158 million liters. It's still there and we haven't used it yet. We'll keep it that for now because it's still sufficient at 52 days' supply," she remarked.
In terms of oil price adjustments, Malacanang recently announced a scheduled rollback in fuel prices this week: diesel by PHP24.94 per liter, gasoline by PHP3.42 per liter, and kerosene by PHP2 per liter. Jetti Petroleum and Seaoil confirmed they will reduce diesel prices by PHP24.94 per liter and gasoline by PHP3.41 per liter, effective 6 a.m. on Tuesday, with Seaoil also decreasing kerosene prices by PHP2 per liter. Garin noted that while the government does not control fuel product prices, EO 110 allows them to influence the extent of price adjustments based on international market changes, insurance, transportation, and foreign exchange movements. "This is not an arbitrary calculation," she emphasized.
In addition, DOE officials announced the operation of five new renewable energy (RE) projects as of April 17, adding approximately 128.9 megawatts (MW) to domestic capacity. This aligns with DOE's goal to operationalize around 25 RE and energy storage projects by the end of the month to mitigate the annual summer demand spike and the impact of high fuel prices due to the Middle East crisis. The projects include the 20.6 MW Hermosa Solar Power Project in Bataan, the 17.5 MW Taft Solar Power Project in Eastern Samar, the 8 MW Biomass Cogeneration Plant in Passi City, Iloilo, the 52.8 MW Cordon Solar Power Project in Isabela, and the 30 MW Arayat 3A Solar Power Project in Pampanga.
