Manila, Philippines – The Department of Energy (DOE) assured that the supply of petroleum products in the country remains sufficient, so there is no reason for the public to engage in panic buying.
According to Energy Secretary Sharon Garin, they are monitoring all oil companies daily, including watching out for anyone attempting to hoard or withhold supply to take advantage of the situation.
Garin also ensured the continued coordination of the DOE with other countries to secure alternative supplies, especially since it is uncertain how long the war in the Middle East will last.
In addition, the DOE is coordinating with the Department of Foreign Affairs (DFA) to communicate with the Philippine Ambassadors and Embassies in supplier countries to maintain contracts for the delivery of petroleum products.
In fact, fuel deliveries from the country’s partner oil companies are scheduled for this April.
At the same time, the DOE urged the public to avoid excessive buying of petroleum products so that everyone, especially public transport drivers, fishermen, and farmers who can only purchase fuel daily, will have the chance to buy.
Meanwhile, following the recent increase in fuel prices from March 10 to March 16, the DOE has released the price adjustments for this week, effective March 17 to March 23.
For Diesel, the price increase ranges from ₱20.40 to ₱23.90 per liter; for Gasoline, from ₱12.90 to ₱16.60 per liter; and for Kerosene, from ₱6.90 to ₱8.90 per liter.
As with the previous week, oil companies will implement the price hikes in a staggered increase.