Philippine News Agency
DOE assures ample oil supply amid Russia-Ukraine war
Energy Secretary Alfonso Cusi assured the public that the Philippines has enough oil supply despite the ongoing Russia-Ukraine conflict, as the country primarily sources crude oil from the Middle East and finished products from the Asia-Pacific.
Cusi noted that while the supply is sufficient, the international oil market's reaction to the Ukraine crisis directly impacts local prices, prompting calls for energy efficiency and conservation.
The conflict highlighted the urgency for the Philippines to achieve energy security and independence, given its reliance as an importer of petroleum products and susceptibility to global price fluctuations.
To mitigate the effects, the government is coordinating with oil companies to offer fuel discounts to the public transport sector.
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