Marcos says planes may have to be grounded amid increasing oil prices
Amid rising global oil prices, President Ferdinand “Bongbong” Marcos Jr. said that some planes in the Philippines may have to be grounded if the cost of fuel continues to soar.
In an interview with Bloomberg, the chief executive considered that possibility due to "scarcity or limitations on crude supply."
"The refining of jet fuel takes a longer time. And so, we will have to depend on what is already readily available," he said.
He also pointed out that certain countries have limited refueling for foreign planes, requiring airlines to carry enough fuel for their return journeys.
"When our airlines fly out, several countries have said we cannot fuel your aircraft. So, you will have to carry the fuel there and back. And that’s around here. And the long haul is going to be a much more serious problem," he explained.
When asked whether this could lead to planes being grounded, Marcos said, "We’re hoping not, but it’s a possibility. It’s a distinct possibility."
In an online press conference, Department of Energy Secretary Sharon Garin said that the Philippines has an adequate fuel supply until the second week of May.
According to her, there are 45.10 days' worth of fuel for the whole country as of March 20. This supply can last for up to 53.14 days, diesel 45.82 days, kerosene 97.93 days, jet fuel 38.62 days, fuel oil 61.49 days, and LPG 23.51 days.
The figures are based on the average daily demand from April to September 2025.
She assured that the government is working on procuring an additional buffer or reserve through the Philippine National Oil Company.
"Currently po, we are trying to purchase 1 million barrels, and that's good enough only for one week for the country, and that will likely cost us [more] than P10 billion already for just one week of supply," Garin said.
The Energy chief added that our current supply is "manageable" and urged the public to avoid hoarding and profiteering.
Despite the skyrocketing oil prices, Palace press officer Claire Castro asserted that the country is not suffering from an oil crisis, as there's enough supply. She remarked that what may be happening is a "price disruption" caused by tensions in the Middle East.
