The Department of Energy (DOE) has secured 1.042 million barrels of diesel—equivalent to about 165.7 million liters—to reinforce the country’s fuel supply position as geopolitical tensions continue to drive instability in global oil markets.

The shipments, arranged through the Philippine National Oil Company–Exploration Corporation (PNOC-EC), are part of the government’s Emergency Energy Security Program under Executive Order No. 110, implemented following the directive of President Ferdinand R. Marcos Jr.

DOE said during a briefing today that the deliveries are scheduled in phases to ensure continuous supply availability through April, with shipments sourced from Japan, Malaysia/Singapore, North Asia/India, and Oman/Singapore.

The first tranche—142,000 barrels or 22.578 million liters from Japan—arrived on March 26, 2026. Additional volumes are expected as follows: 300,000 barrels from Malaysia and Singapore in early April, another 300,000 barrels from North Asia or India in mid-April, and 300,000 barrels from Oman via Singapore by end-April.

Energy Secretary Sharon S. Garin said the staggered deliveries reflect a proactive stance in managing fuel security risks amid continued uncertainty in international markets.

“What this tells us is clear, that we have supply. What we consumed last week was replenished and even increased,” Garin said. 

DOE said the secured volumes are a product of sustained “oil diplomacy” and coordination with partner agencies, aimed at translating international engagements into actual supply inflows.

Petron Corporation, which runs the country’s remaining oil refinery, today also confirmed the procurement of 2.48 million barrels of crude oil from Russia to bolster its inventory through June, adding an additional layer of supply support for the downstream oil market as demand and import requirements remain elevated amid global price volatility.

Latest data cited by the DOE show the Philippines currently holds about 50.94 days of petroleum product inventory, or 75.052 million liters across major fuel types—slightly higher than earlier estimates due to recent replenishments.

Of this stock, diesel inventory stands at 32.516 million liters, equivalent to 46.93 days of cover, while gasoline remains at 59.78 days. LPG, jet fuel, kerosene, and fuel oil inventories also remain within varying coverage levels, reflecting uneven demand and import cycles across fuel categories.

The DOE emphasized that as a net importer of petroleum products, the Philippines remains exposed to external shocks, particularly supply disruptions linked to geopolitical developments in the Middle East, including tensions affecting key shipping routes.

When asked how the procured deliveries will be utilized, the Energy chief said these are intended primarily to reinforce the supply side to ensure fuel reaches oil companies, gas stations, and consumers. She added that an internal committee on oil procurement is expected to issue guidelines on the distribution and sale of the secured fuel to local oil firms.

The developments come as global oil prices continue to rise, with local fuel retailers implementing another round of price hikes—marking consecutive weeks of increases across petroleum products.

With global oil markets remaining highly volatile, how should the Philippines balance short-term fuel security measures with long-term energy resilience strategies? 

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