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A vessel containing 142,000 barrels or 22.57 liters of diesel procured by the government as seen in a Deparmtent of Energy-released image on March 26, 2026.
DOE / Sharon Garin / Released
MANILA, Philippines — Energy Secretary Sharon Garin said that Iran’s agreement to grant safe passage for Philippine-bound energy supplies through the Strait of Hormuz is a “risk management” by the government to secure the country’s oil supply.
In a Facebook post on Saturday, April 14, Garin said that the safe passage to the Strait of Hormuz is not a “perfect solution” and does not “eliminate all risks” but is an important step to “that improves our position in a highly uncertain global environment.”
“Even if much of our fuel is sourced from regional hubs like Singapore or Korea, the crude oil these come from often passes through the Strait of Hormuz. Any disruption there creates a domino effect that impacts global supply—and ultimately, prices at the pump,” Garin said.
The energy chief said that securing safe and preferential access helps reduce the risk of supply disruption, strengthens protections for Philippine-linked cargo and improves safety considerations for Filipino seafarers.
“This is risk management because in a time of global tension, risk reduction is already a meaningful gain,” she said.
However, this does not guarantee the reduction of oil prices, nor will it resolve the country’s challenges in energy, according to Garin.
“This development will not immediately bring down fuel prices, nor does it resolve our long-term structural challenges in energy. Those remain priorities that we continue to address,” Garin said.
“But what this does is help ensure continuity of supply and stability, especially at a time when further disruptions could significantly affect our economy and our people,” she added.
Following a teleconference between Foreign Affairs Secretary Ma. Theresa Lazaro and Iranian Foreign Minister Seyed Abbas Araghchi, the Philippines, on April 2 said that it secured safe passage through the Strait of Hormuz, a critical maritime corridor that handles 20% of the world's global oil and liquefied natural gas supply.
The call was made amid the high prices on petroleum products across the country, with some products averaging more than P130 per liter.
