Metro Manila, Philippines – President Ferdinand Marcos Jr. said the country has enough oil for around 45 days and is working to make the commodity available to consumers in a volatile global energy market.
In an address on Wednesday, March 25, Marcos said the government has secured inventory levels while continuing to look for additional sources.
“Now we are talking about 45 days on average… but we are not stopping,” the president said, adding that the target is continuing deliveries to go beyond reserves.
He said the government has been coordinating with suppliers to honor existing contracts and exploring alternative sources of oil from those unaffected by the conflict.
“We can be fairly confident… that after 45 days, we will already have a flow of oil — not just one delivery, not just two deliveries, but a flow of petroleum and petroleum-related products,” he said.
Marcos acknowledged that rising global oil prices remain a major concern, as these are beyond the government’s control. The country imports almost all of its fuel requirements.
“Oil will do what it will do… no one, not even the producers, have control over the world price of oil,” he said.
To cushion the impact on consumers, the government has rolled out measures, including fuel subsidies, transport discounts, free rides, and expanded food assistance programs.
Marcos said he declared an “energy emergency” to give the government more flexibility to respond fast.
“It is a very specific and precise emergency… the energy sector, the supply of energy and the prices of energy,” he said.
The declaration allows quick procurement of fuel, stronger action against hoarding and price gouging, and closer coordination among key agencies through a unified command structure led by the president.
Marcos said the government is prioritizing measures that deliver immediate relief to Filipinos.
“Hindi natin kontrolado ang presyo ng langis sa mundo… ngunit ang hindi maaaring mangyari ay maramdaman ng bawat Pilipino ang buong bigat nitong mga pangyayari,” he said.
[Translation: We cannot control global oil prices… but what must not happen is for Filipinos to bear the full burden of these events.]
He assured the public there is no need to panic as the government is preparing multiple scenarios.
“We anticipate, we prepare, and we act,” Marcos said, adding that all options remain on the table as authorities work to stabilize supply and protect consumers.
