Fuel supply in the Philippines enough for 52.02 days—DOE
The Philippines has enough fuel for around 52 days, the Department of Energy said.
According to the DOE's Oil Industry Management Bureau, as of April 17, the available supply of diesel is expected to last for a total of 50.13 days, while gasoline stocks are projected to last for around 54.47 days.
Kerosene has the largest inventory cover, with supplies expected to last for around 129.93 days.
For other petroleum products, jet fuel is expected to last approximately 60.69 days, while fuel oil stocks are projected to cover 78.87 days. LPG supply, on the other hand, is estimated to last for 40.26 days.
With this, the country's average fuel supply is expected to last for around 52.02 days.
President Ferdinand “Bongbong” Marcos Jr. recently announced that there will be a "bigger rollback" in fuel prices in the coming days.
In a video message, the chief executive stated that diesel prices are expected to go down by around P24.94 per liter. Gasoline, on the other hand, will decrease by P3.41 per liter, while kerosene will drop by P2 per liter.
In addition, Solane is expected to reduce LPG prices by P3.36 per kilo on April 21 to reflect the suspension of the excise tax, per The Philippine STAR.
"Sa ating mga oil company, malinaw naman ang aking panawagan. Ipatupad ninyo ang rollback nang buo, tama, at walang pag-aantala. Ibigay ninyo sa taong bayan ang dapat naman na nasa kanila," Marcos stressed.
To ensure this, DOE Sec. Sharon Garin underscored that the government will limit how much oil companies can raise prices and establish a minimum level for rollbacks.
"Kapag sinabi ng DOE na P10 lang 'yung increase, hindi pwedeng sumobra. So that's our new rule now because of the issuance of [Executive Order 110], which triggers the additional powers of the government to prescribe the price during these times of emergency," she said in a press conference.
Garin added that they will issue show cause orders to companies not following the prescribed price limits.
"Kailangan i-explain nila nang maayos kung bakit 'di sila susunod. Kung hindi ma-explain nang maayos, then that could be a cause for us to revisit their permit kasi hindi sila sumusunod sa conditions ng permit nila."
Other penalties for disobedience may include three months to one year of imprisonment as well as a fine ranging from P50,000 to P300,000.
Since the beginning of the Middle East war on Feb. 28, fuel supply in the Philippines has been uncertain largely due to the closure of the Strait of Hormuz by Iran, and now the supposed blockade by the US.
