DOE: Petroleum supply sufficient

CEBU, Philippines — The Department of Energy (DOE) reported that the country’s petroleum supply remains sufficient, with an average inventory equivalent to 41.16 days’ worth of fuel across all major petroleum products, including gasoline, diesel, kerosene, jet fuel, fuel oil, and liquefied petroleum gas.

Energy Secretary Sharon Garin, during a virtual press conference yesterday, said the inventory level remains healthy as the department continues to closely monitor fuel supplies despite signs of stabilization in the Middle East, where geopolitical tensions previously triggered volatility in global oil prices.

The DOE also released its forecast for fuel price movements covering the period from Tuesday until the following Monday.

Gasoline prices are expected to range from a rollback of ?0.10 per liter to an increase of ?1.90 per liter.

Diesel prices may either decrease by as much as ?1.16 per liter or increase by up to ?0.84 per liter.

Meanwhile, kerosene prices are projected to range from a rollback of ?0.78 per liter to an increase of ?1.22 per liter.

She said the projected price ranges indicate that the international oil market is gradually stabilizing following recent volatility. She noted that price adjustments are no longer experiencing the sharp increases or rollbacks seen during the height of the conflict, when fuel prices fluctuated by as much as ?10 to ?20 per liter.

Garin expressed hope that global oil prices would continue to ease and eventually return to pre-conflict levels, while assuring the public that the DOE will continue monitoring international developments and provide timely updates on their impact on domestic fuel prices.

She emphasized that movements in global oil prices remain largely beyond the country’s control, making continuous monitoring and preparedness essential.

Meanwhile, DOE welcomed the implementation of the expanded Retail Competition and Open Access and Retail Aggregation Program, describing the lowering of the contestability threshold to 100 kilowatts from 500 kW as a significant step toward giving more Filipino consumers greater choice, better value, and more control over their electricity service.

Effective June 26, 2026, qualified electricity consumers with an average monthly demand of at least 100 kW may now directly choose their retail electricity supplier, while smaller consumers, including households, may participate in the competitive retail market by aggregating their electricity demand through the Retail Aggregation Program.

The reform, implemented by the Energy Regulatory Commission expands access to the competitive electricity market beyond large industrial users to include a broader range of commercial establishments, institutions, and residential communities.

Garin said the expansion reflects the government's continuing commitment to ensuring that the benefits of power sector reforms are increasingly felt by ordinary Filipino consumers.

"Electricity consumers deserve more than reliable power, they deserve the opportunity to choose the service that best meets their needs. Expanding access to the competitive retail electricity market gives consumers greater voice, encourages suppliers to deliver better value, and strengthens competition for the benefit of the Filipino people,” Garin said.

She emphasized that meaningful competition creates stronger incentives for innovation, efficiency, and customer-focused service across the electricity sector.

“When suppliers compete for consumers, everyone is challenged to perform better. That competition drives innovation, improves service quality, and encourages more competitive electricity offerings. Ultimately, our goal is simple: ensure that every Filipino has access to reliable, affordable, and quality electricity,” she added. — (FREEMAN)