

The Department of Energy (DOE) announced that this week, it will be ordering the country’s supply of petroleum products for the next month.
According to a report by RH 15 Jecelle Ricafort, DOE Secretary Sharon Garin said the agency is broadening its sources of petroleum amid the global oil crisis, adding that 600,000 barrels of oil are expected to arrive in the following weeks.
Garin also disclosed that the government has already received an oil delivery from Japan, followed by around 329,000 barrels from Malaysia.
The Energy Secretary said more oil deliveries of around the same amounts are expected to come from North Asia or India, as well as from Singapore or Oman.
The country’s oil supply is estimated to last for 64 more days, although Garin said the country’s oil storage cannot accommodate supplies for 90 to 120 days.
Earlier, the DOE said that even if the war in the Middle East reaches its conclusion, it will take a while for petroleum prices to go down, with energy infrastructures having sustained lasting damage.
Despite the suspension of the fuel excise tax, the public will not see an immediate reduction in fuel, as taxes for the fuel presently being sold have already been paid for.
