Marcos Orders PHP20 Billion Emergency Fund To Secure Fuel Supply

MANILA, March 25 (Bernama-PNA) -- President Ferdinand R. Marcos Jr. has ordered the release of PHP20 billion in emergency funds to ensure the country has an adequate fuel supply amid the global oil crisis brought about by the ongoing conflict in West Asia, the Philippine News Agency (PNA) reported.

The Department of Energy will receive the emergency funds through a Special Allotment Release Order and a Notice of Cash Allocation issued on Tuesday, the Department of Budget and Management (DBM) said in a statement on Wednesday.

The DBM said the approved budget will be sourced from the Malampaya Gas Fund under the Special Account in the General Fund.

“The funding will be charged against the Malampaya Gas Fund, ensuring that resources are readily available for urgent national energy security needs without disrupting other priority programmes,” it said.

The PHP20 billion will be tapped for the implementation of the government’s Emergency Energy Security Programme aimed at ensuring fuel availability, preventing supply shortages, and mitigating the impact of volatile global oil prices.

It will fund the strategic procurement of fuel products, including diesel, gasoline, and LPG, in an effort to boost national fuel inventory, stabilise pump prices, and ensure uninterrupted operations across transport, logistics, agriculture, emergency response, and other critical sectors.

The DBM said the programme will be implemented by the Philippine National Oil Company Exploration Corp. (PNOC-EC), which has already initiated procurement activities to immediately augment domestic supply.

“As global uncertainties continue to affect energy markets, the Marcos administration is taking a firm and proactive stance – ensuring that the Philippines remains resilient, prepared, and protected,” it said.

The latest move comes amid escalating geopolitical tensions in West Asia that have disrupted global oil production and distribution, posing serious risks to domestic fuel supply and the continuity of essential services.

Marcos on Tuesday signed Executive Order 110, declaring a state of national energy emergency for a year to stabilise the country’s energy sector.

DBM Acting Secretary Rolando Toledo said the government would ensure that the fuel remains available, prices are moderated, and essential services are unhampered.

“Every peso we release here is meant to keep the economy moving, keep goods flowing, and keep services running. This is what fiscal discipline looks like – using public funds where they matter most, at the time they are needed most,” Toledo said.

-- BERNAMA-PNA