KUALA LUMPUR - The Philippines has enough domestic oil supply to last about 50 days, with more buffer stocks set to arrive this month under a government programme, officials from the Department of Energy said.

According to the Philippine News Agency, the update was shared during an online briefing on Tuesday.

DOE Undersecretary Sandy Sales said about 900,000 barrels of oil are scheduled for delivery in April.

He said the first shipment of 300,000 barrels will arrive by April 10 from Malaysia via Singapore, sourced through global commodities firm Vitol.

Two more shipments of 300,000 barrels each are expected later in the month, contracted through Vitol and Trafigura, and sourced from North Asia and India.

“The indication is that the cargos are not yet settled, although they are already contracted,” Sales said.

Energy Secretary, Sharon Garin said earlier that the buffer stocks are being secured under the Emergency Energy Security Programme through the Philippine National Oil Company-Exploration Corporation.

She said the country still has enough time to secure more buffer stocks on top of supplies from private oil companies.

“So, we are in a good position regarding supply. We met today with our bond distributors. 

“The system has somewhat returned to normal, especially in independent gas stations and remote areas,” she said.

DOE data as of April 3 showed that fuel supply levels, including local stocks and confirmed deliveries until May 1, can last 57.58 days for gasoline, 47.26 days for diesel, 106.22 days for kerosene, 66.36 days for jet fuel, 52.26 days for fuel oil, and 33.10 days for liquefied petroleum gas.

Meanwhile, fuel prices in Metro Manila and other urban areas from March 31 to April 6 ranged from PHP87.90 to PHP104.10 per litre for gasoline, PHP116.80 to PHP154.20 for diesel, and PHP141.30 to PHP169.29 for kerosene.

Prices for liquefied petroleum gas during the same period ranged from PHP1,141 to PHP1,630.43.