Metro Manila, Philippines – The government has approved a ₱20-billion emergency fund to secure fuel and cushion the impact of rising oil prices as supply disruptions rock global energy markets.
In a statement, the Department of Budget and Management said the funds were released to the Department of Energy upon the directive of President Ferdinand Marcos Jr..
The money from the Malampaya Gas Fund will be spent to buy diesel, gasoline, and liquefied petroleum gas. The country imports almost all of its fuel requirements, making it vulnerable to global price shocks.
“This is about protecting the daily life of every Filipino—from the jeepney driver and delivery rider, to our farmers, frontliners, and ordinary families. Kapag may problema sa fuel, apektado ang buong ekonomiya. Hindi puwedeng maghintay,” Budget Secretary Rolando Toledo said.
[Translation: If there is a problem with fuel, the entire economy is affected. We cannot afford to wait.]
He said the government is acting with urgency to make sure fuel remains available and essential services are not disrupted.
“We are moving with urgency to ensure that fuel remains available, prices are moderated, and essential services continue uninterrupted,” Toledo said.
The program will be implemented by the Philippine National Oil Company–Exploration Corporation, which has begun buying more fuel.
Officials said the intervention will support critical sectors such as transport, logistics, agriculture and emergency services, which are most vulnerable to fuel price swings.
Toledo said tapping the Malampaya fund allows the government to respond quickly without affecting other priority programs.
