DOE: No oil supply problem, issue is price

DOE Undersecretary Gerardo Erguiza assured the public on Monday that there is no problem with oil supply in the Philippines.

During a congressional hearing, Erguiza stated that fuel inventory levels are sufficient for more than 40 days and emphasized that the current issue lies with rising prices rather than quantity.

House Committee on Economic Affairs chair Rep. Sharon Garin highlighted the need to address the fuel crisis's impact on economic stability as pandemic restrictions ease.