Philippines' fuel supply extended to nearly 51 days

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MANILA, Philippines — The Philippines’ fuel supply has been extended by nearly six days, giving the government more buffer to manage global oil disruptions, Energy Secretary Sharon Garin said Monday, March 30.

Data from the Department of Energy’s Oil Industry Management Bureau show that fuel inventory could last an average of 50.94 days as of March 27, up from 45.10 days as of March 20.

"We added six more days despite the fact that we still consume, so we consume and then we add," Garin said. "What this tells us is clear: we have a supply."

The breakdown of supply across fuel types:

Fuel type Days of supply

Gasoline	59.78 days
Diesel	46.93 days
Kerosene	107.88 days
Jet fuel	62.69 days
Fuel oil	57.27 days
LPG	34.02 days

Garin said these levels give the government time to replenish stocks while consumption continues.

“Our supply gives us a level of assurance in the sense that we have a lead time to order more while we are consuming for the month of April,” she said.

Daily demand remains high, with diesel consumption at over 32 million liters and gasoline at more than 23 million liters.

Incoming supply, buildup

The increase in inventory comes as the government ramps up fuel procurement.

The Philippine National Oil Co. and PNOC Exploration Corp. have secured 1.042 million barrels of diesel, or about half of their 2 million-barrel target.

Deliveries are being scheduled in phases:

• 142,000 barrels from Japan have arrived in La Union and Batangas
• 300,000 barrels from Malaysia and Singapore due early April
• 300,000 barrels from India expected by mid-April
• 300,000 barrels from Oman, via Singapore, expected by end-April

“This is a system that we set up three weeks ago already under the instruction of the pesident to maintain a stable and sufficient oil supply nationwide,” Garin said.

“It is scheduled in phases to ensure sustained domestic availability during a period of heightened external market uncertainty,” she added.

Supply outlook

President Ferdinand Marcos Jr. earlier said crude oil stocks could last until June 30.

Petron Corp. also disclosed that it procured 2.48 million barrels of Russian crude, enough to support its supply until June.

Garin said the current buffer gives both government and private firms time to secure additional sources.

“So, when you see 59 days for gasoline, that means we have almost 60 days to look for replenishment,” she said.

Most shipments from Southeast Asia can arrive within one to 10 days, she added.

The DOE, with support from the Department of Foreign Affairs, is exploring new supply partnerships with Argentina, Australia, Brunei, Canada and Colombia.

Call for conservation. The Philippines imports about 98% of its fuel, largely from the Middle East, making it vulnerable to disruptions such as Iran’s blockade of the Strait of Hormuz.

State firms are also working to secure additional reserves of jet fuel and liquefied petroleum gas.

DOE Undersecretary Alessandro Sales said Petron has committed about 19% of its crude supply for LPG production.

Despite improved supply levels, Garin urged the public to use fuel more efficiently as the conflict continues.

“It is more for us to be extra careful because we don’t know where the war is going,” she said.

“So, as a country, this is our major appeal to our fellow Filipinos — that we support each other.”  — Based on reports from The STAR / Helen Flores and EJ Macabbabad