DOE: No Oil Crisis in PH

The Philippines is not experiencing an oil supply crisis, the Department of Energy (DOE) assured yesterday, even as fuel prices hit record highs. Energy Secretary Sharon Garin said the problem lies in global price increases, not shortages.

“There is no crisis in terms of supply. The issue is price, which the DOE and oil companies cannot control,” Garin told dzMM radio. She emphasized that the country still has more than 30 days’ worth of fuel, providing enough time to secure additional imports if needed.

While traditional suppliers remain steady, Garin noted that the Philippines may explore sourcing fuel from other countries, including the United States, Canada, and potentially Russia, though purchases from Moscow may only be possible until April.

The statement comes as oil companies implemented sharp price hikes, with diesel projected to reach up to ₱114 per liter. Prices in the deregulated market vary by company, reflecting the free-pricing system where firms compete independently.

Meanwhile, rising fuel costs have sparked protests. Transport groups and allied organizations are planning a nationwide strike to protest high prices, with calls to suspend taxes on petroleum and expand subsidies for farmers and fisherfolk. Leaders of Anakpawis and Bagong Alyansang Makabayan highlighted the growing burden on working-class and rural communities.

Church leaders, including Taytay, Palawan Bishop Broderick Pabillo, urged Filipinos to remain calm, live simply, and keep faith amid economic pressures.