Ferdinand Marcos Jr. says Philippines oil supply stable despite Middle East conflict

President Ferdinand Marcos Jr. has assured Filipinos that the country’s oil supply remains stable, even as ongoing conflicts in the Middle East continue to affect global energy markets.

The Philippines imports the majority of its petroleum products, making it vulnerable to fluctuations in international oil prices and disruptions to shipping routes. However, the President confirmed that the country currently has enough fuel reserves to last around 50 to 60 days, covering gasoline, diesel, and other petroleum products used across transportation, industry, and daily life. He also added that additional fuel shipments are already on their way, ensuring that domestic supply remains sufficient in the coming weeks.

Government agencies are closely monitoring developments in the Middle East and exploring alternative suppliers and shipping routes. This proactive approach is aimed at preventing disruptions in the country’s fuel imports and keeping supply chains stable. For travellers, commuters, and transport operators, this means that flights, buses, ferries, and other travel services are expected to continue operating normally, even as global oil markets remain unpredictable.

Panic buying causing temporary shortages

Image credit: Engin Akyurt | Pexel

Also read: Only 60 Days of Oil Supply? What Travellers in the Philippines Should Know

Despite the reassurance of stable national reserves, some gas stations have reported temporary fuel shortages. Experts attribute this to panic buying, as motorists rush to fill up their tanks at the first sign of potential supply issues or rising fuel prices.

This sudden surge in demand can quickly deplete fuel stocks at individual stations, even if the country’s overall supply remains adequate. In most cases, these shortages are short-term and localised, as regular deliveries from fuel depots quickly replenish stocks once tanker trucks arrive. Authorities emphasise that the overall supply in the Philippines is stable, and there is no nationwide shortage at present.

For travellers planning road trips or commuters relying on public transport, this means fuel availability is unlikely to disrupt travel plans. Motorists are encouraged to buy fuel responsibly and avoid hoarding, as doing so can create unnecessary pressure on local stations and contribute to temporary shortages.

The situation highlights how global events can influence local markets, even in countries with stable reserves. While the Middle East conflict continues to create uncertainty in international oil prices, the Philippines is taking steps to safeguard its fuel supply, including monitoring shipments, maintaining reserves, and exploring alternative import routes.

With these measures in place, Filipinos can expect normal fuel supply and transport services for the coming weeks. Travellers, transport operators, and everyday commuters can take comfort in knowing that despite international tensions, the country is prepared to maintain stability in its oil supply.