President Ferdinand Marcos Jr. said on Friday that the Philippines has sufficient crude oil supply until the end of June, thanks to shipments by Petron Corporation. The assurance comes amid concerns over global supply disruptions from the Middle East conflict. He outlined government measures to mitigate the impact.
On March 27, 2026, President Ferdinand Marcos Jr. spoke at the opening of the Ninoy Aquino International Airport Expressway-westbound off-ramp to NAIA Terminal 3. Following talks with Petron Corporation's Ramon Ang, he assured that the Philippines has enough crude oil supply until June 30.
"Mayroon na tayong supply of crude oil, sufficient supply hanggang June 30," Marcos said. He noted that importing crude for refining is cheaper than importing finished diesel.
The Department of Energy announced on March 26 a first shipment of 22.5 million liters of diesel, or 142,000 barrels, under its Emergency Energy Security Program, linked to Petron's imports with the Philippine National Oil Company. Based on 2024 data, this covers less than a day's diesel consumption of around 201,926 barrels.
At a Senate hearing that day, petroleum company representatives said securing supplies is difficult, with post-April imports uncertain due to export bans from supplying countries. Petron general manager Lubin Nepomuceno described procurement as "very challenging" amid rising costs including freight and insurance.
Marcos stated the government is considering all options to ease the Middle East conflict's effects, including aid for commuters facing higher transport costs and immediate support for affected people. Amending the oil deregulation law would take lengthy discussions. Separately, the Energy Regulatory Commission suspended the wholesale electricity spot market to manage supply risks and price spikes.
