Recto trumpets incoming fuel supplies

Malacañang said Sunday the government has started implementing measures to cushion the impact of global oil supply disruptions, citing new fuel imports and supply arrangements.

Executive Secretary Ralph Recto said oil firm Petron Corporation has committed to securing fuel supply, while the Department of Energy arranged the purchase of 1.04 million barrels of diesel, with the first shipment expected this week.

Indonesia has also committed to maintaining coal shipments to the Philippines, while additional wells in the Malampaya gas field are scheduled to come online by the last quarter of 2026.

Recto said the government is also expanding fuel subsidies for about 250,000 public transport drivers. Assistance for farmers and fishermen is expected to follow to help mitigate rising costs.

On the demand side, Department of Energy has conducted spot checks in more than 1,000 government offices to enforce energy conservation measures.

Recto said the government may use a newly passed law allowing the President to suspend or reduce excise taxes on petroleum products if needed.

He added that preparations for the ASEAN Summit had also been scaled down to reduce costs.