DBM taps P20 billion from Malampaya fund for fuel purchasesThe government has approved a P20 billion fund on March 25, 2026 to buy fuel and secure supply as oil prices surge. MANILA, Philippines (Updated 4:37 p.m.) — The Department of Budget and Management (DBM) approved the release of P20 billion to fund fuel purchases of up to 2 million barrels, as the government moves to secure supply and cushion the impact of rising oil prices. Fuel prices in the Philippines have climbed past past triple digits per liter for most products as global supply concerns intensify. The DBM said the P20 billion will be used to procure fuel products such as diesel, gasoline and liquefied petroleum gas to boost national reserves and help stabilize pump prices. The Philippine National Oil Company–Exploration Corp. will lead the procurement to augment domestic supply.

Source: Philippine Star March 25, 2026 13:50 UTC