The Philippines has seen a slight increase in its national fuel inventory, which now stands at 50.94 days, according to the Department of Energy (DOE). This figure is higher than the previously reported 45 days, providing a buffer amid the ongoing crisis in the Middle East.
Recent Purchases Boost Supply
Executive Secretary Ralph Recto announced that the country has purchased one million barrels, equivalent to 165 million liters, of diesel from various nations. Last week, 22.6 million liters arrived from Japan, with additional supplies expected to arrive in April.
DOE Confidence in Inventory Levels
DOE Secretary Sharon Garin expressed confidence that the current inventory levels will provide sufficient time while awaiting incoming stocks. She emphasized that this increase helps mitigate potential disruptions caused by the Middle East situation.
The DOE continues to monitor the fuel supply chain closely, ensuring that the Philippines remains resilient during global uncertainties. This strategic procurement aims to stabilize prices and maintain energy security for the nation.
