PH fuel inventory may extend beyond 64 days amid Mideast crisis

By Wilnard Bacelonia, Philippine News Agency

SUPPLY. An oil tanker replenishes the underground storage tank of a gasoline station in Quezon City in this photo taken on March 9, 2026. The government is monitoring gas stations as part of intensified efforts to address the impact of rising oil prices amid tensions in the Middle East, like unauthorized or premature increases. (PNA photo by Joan Bondoc)

MANILA – The country’s fuel inventory could extend beyond the current 50-day level to more than two months as additional orders are secured, although long-term supply remains uncertain, the Department of Energy (DOE) said.

The update was discussed during a Senate Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT) Committee hearing on Monday.

Energy Secretary Sharon Garin said the Philippines has about 50.31 days of fuel inventory as of April 10, with gasoline at 54 days, diesel at 48 days, and liquefied petroleum gas (LPG) at 36 days.

She said existing orders could extend the country’s supply buffer.

“Monitoring all the contracts and their orders, on top of the 50 days, there’s an order for 14 days na no issue. And then ang may issue is three days, Mr. Chair (while about three days have issues),” Garin told panel chair, Sen. Sherwin Gatchalian.

Gatchalian, meanwhile, said the additional orders effectively extend the country’s inventory to about 64 days.

“Based on your, I’m sure meron kayong, parang forecasting… itong 50 days sigurado dahil nandito na yan… beyond 50 days, ilan ba ang firm contracts at ilan ba ang confirmed deliveries ( I’m sure you have some kind of forecasting… this 50 days is certain since it’s already here… beyond 50 days, how many firm contracts do we have and how many confirmed deliveries are there)?” Gatchalian said.

Garin explained that fuel supply operates on a rolling basis, with oil companies continuously replenishing stocks as they are consumed.

“It doesn’t move because we replenish what we consume… 50 days actually is more of an indication of how much time we have to find replenishment,” she said.

She added that there are currently no major disruptions in supply contracts.

“So far, ang orders with issues… very minimal lang siya (are very minimal)… as of today… there seems to be enough supply as long as you’re willing to pay the price,” Garin said.

However, she noted that suppliers are unable to provide long-term guarantees due to global uncertainties.

“I don’t think even the suppliers or our oil companies can assure that long of a contract… at this time,” she said.

Gatchalian urged continued high-level negotiations, including government-to-government deals, to secure additional supply beyond current inventory levels.

Garin assured that DOE continues to monitor in-country stocks, in-transit deliveries, and incoming orders on a weekly basis to ensure steady supply amid ongoing global disruptions.