The Bureau of Customs has confirmed that the Philippines has nearly a two-month stockpile of petroleum products despite the ongoing tensions in the Middle East, while monitoring efforts intensify to prevent artificial shortage and profiteering.
MANILA, March 8, 2026 — The Philippines currently holds an almost two-month supply of petroleum products, according to Bureau of Customs (BOC) Commissioner Ariel Nepomuceno. This assurance comes amid concerns of supply disruptions due to the continuing conflict in the Middle East, a key source region for oil imports. Nepomuceno stated on Super Radyo dzBB that the Department of Energy (DOE) manages this supply, which is deemed sufficient for close to two months of consumption.
Despite this, the DOE has projected notable fuel price increases in the coming week, estimating rises of approximately PHP 19.00 per liter for diesel, PHP 9.00 per liter for gasoline, and PHP 31.00 per liter for kerosene. These adjustments reflect the volatile global oil market conditions stemming from geopolitical tensions.
To safeguard the domestic market, the BOC is actively inspecting oil company warehouses and depots nationwide to prevent artificial shortages. Simultaneously, the DOE has intensified monitoring efforts against hoarding and profiteering related to petroleum sales.
Furthermore, the ongoing conflict’s impact could extend to government revenues, as the Philippines collects between PHP 330 billion to PHP 410 billion annually from petroleum-related taxes. The DOE is reportedly preparing strategic measures to mitigate adverse effects on the country’s energy supply and price stability.
These developments highlight the government’s proactive stance in managing energy security amid international uncertainties.
Sources referenced:
- https://www.gmanetwork.com/news/topstories/nation/979166/ph-has-two-month-supply-of-oil-boc/story/
