Contingency planningI can only scratch my head after reading that PNOC wants to buy a million barrels of diesel within a week to ensure supply. The emergency supply agreement with ASEAN countries was our best assurance of continued supply. Most of our processed fuel (gasoline, diesel) comes from Asian neighbors like South Korea (34 percent) and China (25 percent). Besides, the rest of the world will also be competing for whatever oil these non-traditional oil exporters can supply. Speaking of prices, non-oil power sources such as Malampaya will not shield us much from the oil price increases.

Source: Philippine Star March 08, 2026 16:34 UTC