P20 billion DOE emergency fund OK’d

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March 26, 2026 | 12:00am

MANILA, Philippines — The Marcos administration has approved the release of a P20-billion emergency fund to the Department of Energy (DOE) to finance fuel product procurement, as the country grapples with a “national energy emergency” triggered by the US-Iran war.

In a statement, the Department of Budget and Management (DBM) said it authorized the P20 billion, which will be issued through a special allotment release order and notice of cash allocation, to the DOE to “stabilize prices, protect transport and ensure uninterrupted essential services.”

Tapped from the Malampaya Gas Fund under the Special Account in the General Fund, the funding will back the Emergency Energy Security Program. It aims to stabilize fuel availability, curb supply shortages and soften the impact of volatile global oil prices.

The approval came after President Marcos declared a national energy emergency on Tuesday in response to the Middle East war, which he described as posing an “imminent danger” to the country’s energy supply.

Budget Secretary Rolando Toledo said the government is moving with urgency to ensure that fuel remains available, prices are moderated and essential services continue uninterrupted.

Energy Secretary Sharon Garin earlier assured the public that the country’s fuel reserves remain “manageable,” with 45 days’ worth of supply currently available, while the government works to expand buffer stocks.

The DBM said the P20-billion intervention will finance the procurement of fuel products, including diesel, gasoline and liquefied petroleum gas (LPG), to extend the national fuel inventory and stabilize pump prices.

The fund will ensure uninterrupted operations across transport, logistics, agriculture, emergency response and other critical sectors.

“The program will be implemented by the Philippine National Oil Co.-Exploration Corp. (PNOC-EC), which has already initiated procurement activities to immediately augment domestic supply,” the DBM said.

However, the impact of the fuel supply strain is already being felt on the ground.

Up to 415 gasoline stations across the country have stopped operations due to supply constraints brought by the crisis in the Middle East, according to Philippine National Police chief Gen. Jose Melencio Nartatez Jr.

In Congress, lawmakers are pushing policy measures to address the crisis and prevent similar situations in the future.

The progressive Makabayan bloc has filed House Bill 8765 seeking to declare fuel products as prime commodities and impose price ceilings to curb alleged cartel practices.

House Deputy Speaker Albee Benitez is proposing a “hybrid” revival of the Oil Price Stabilization Fund to act as a buffer during future oil shocks.

Senators, for their part, warned against possible corruption risks amid the large-scale government spending for fuel procurement.  –  Jose Rodel Clapano, Diana Lhyd Suelto, Emmanuel Tupas, Delon Porcalla, Neil Jayson Servallos