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Metro Manila, Philippines –  Shipments of 900,000 barrels of diesel will arrive this month, the Oil Industry Management Bureau (OIMB) said. In a press briefing on Tuesday, April 7, OIMB Director Rino Abad confirmed that the first cargo from Malaysia through a Singapore-trader will arrive on April 10. The next two from north Asia and India will arrive between the second and third weeks.  This is in line with the government goal to secure buffer stock of over two million barrels.  “PNOC (Philippine National Oil Company) is still working on it, week-on-week, to procure more,” said Energy Secretary Sharon Garin.   Garin said the government is yet to purchase Russian oil. 

Metro Manila, Philippines – The oil supply will last for 50.42 days or until the end of May, the Department of Energy (DOE) said on Tuesday, April 7. As of April 3, the Oil Industry Management Bureau (OIMB) listed the oil inventory as follows: gasoline – 57.58 days diesel –  47.26 days kerosene – 106.22 days jet fuel – 66.37 days fuel oil – 52.26 days liquefied petroleum gas (LPG) – 33.10 days OIMB Director Rino Abad said the demand disruption in diesel has reached 20-40 percent.  He said the LPG inventory has been stabilized.  “Marami po yung confirmed in-transit na LPG,” said Abad, noting that supply may last up until June.  [Translation: There is a lot of LPG confirmed in-transit.]

Metro Manila, Philippines – Oil companies would be required to disclose the pricing of petroleum products and justify any price adjustments under a bill filed by Senator Imee Marcos.  “Hindi puwedeng hulaan lang natin kung bakit ganyan kamahal ang gasolina. Karapatan ng mamimili malaman ang buong kuwenta, hanggang sa huling sentimo,” Marcos said in a statement on Tuesday, April 7.  [Translation: We cannot be left guessing why gasoline is so expensive. Consumers have the right to know the full breakdown, down to the last centavo.] Her proposal seeks to amend the Downstream Oil Industry Deregulation Act of 1998 to require the unbundling and disclosure of all components of petroleum product prices.  These are the costs of: crude oil or finished petroleum products freight and insurance refining and processing distribution and marketing taxes, including excise tax and value added tax dealer margins other relevant charges The breakdown must be displayed at…

Metro Manila, Philippines – The country posted a higher inflation rate in March triggered by rising fuel and transport costs, accelerating to 4.1 percent – the highest in almost two years, the Philippine Statistics Authority (PSA) announced on Tuesday, April 7. In a press briefing, National Statistician Dennis Mapa said the percentage rise in consumer prices was nearly two points higher than the 2.4 percent in February, impacted by escalating tensions in the Middle East. The latest imprint was the highest since July 2024 at 4.4 percent. It also exceeded the central bank’s target of 2 to 4 percent. The PSA attributed the acceleration to surging transport costs, which posted a 9.9 percent inflation rate.  Inflation on fuel products hit double digits at 27.3 percent and 59.5 percent, respectively, the highest since September 2022 at the height of the Ukraine-Russia war. Other inflation drivers were food and non-alcoholic beverages, as…

Metro Manila, Philippines – The Department of Foreign Affairs (DFA) has confirmed the death of a Filipina national killed in a missile attack in Haifa, Israel, on Sunday night, April 5. The attack occurred at the couple’s residence, where the Filipina, along with her husband and parents-in-law, died. In an article, The Jerusalem Post said that the Israel Defense Forces attempted to intercept the missile but failed after it broke apart early in its flight, causing fragments to scatter across Haifa. The Philippine Embassy in Tel Aviv is closely coordinating with the victim’s family and is arranging for the earliest possible repatriation of her remains. The family has requested privacy at this time.