Amid Another Pump Price Increase in PH, DOE Secretary Sharon Garin Speaks on Oil Supply
DOE – Department of Energy Secretary Sharon Garin claimed that the oil supply in the Philippines is still “manageable”.
The United States-Israel-Iran war has yet to come to an end and it is undeniably affecting several other nations across the globe. Iran previously warned the world to prepare for oil to hit $200 per barrel. The warning came after the threat of United States President Donald Trump that Iran may be attacked much harder if it will halt the global oil supply.
Trump admitted that America makes a lot of money with its huge oil reserves. However, according to the U.S. President, what is allegedly more important to him is that he was able to stop Iran from supposedly acquiring nuclear power and destroying the world.
Following the attack that killed several Iranians including Iran’s Supreme Leader Ayatollah Ali Khamenei, Tehran implemented restrictions on the passage in the Strait of Hormuz. It is open for all vessels except for the enemies-related ships.
U.S. Pres. Donald Trump previously warned Iran to fully open the Strait of Hormuz within 48 hours or they will attack the energy facilities of the country. In its response, Iran retaliated saying it might close the waterway fully.
The response of Iran was followed by Trump saying that the attack will be postponed following an alleged “very good and productive talks” with Iran. However, amid the ongoing war in the Middle East, several other countries including the Philippines is suffering from high costs of oil.
Pump prices in the Philippines have increased twice and countless Filipinos are greatly affected by the situation. Pres. Bongbong Marcos promised that the Filipinos of continued efforts of the government amid the high oil costs in the country. The government gave out fuel subsidies as well as cash assistance amid the situation.
Recently, citing the remarks of DOE Secretary Sharon Garin, Malacanang also asserted that there is currently no oil crisis in the Philippines. Palace press officer undersecretary Claire Castro stressed that the oil suppply is enough.
The cost of regular diesel has hit P130 per liter today while premium diesel reached P140 per liter. Gasoline also increased between P8 to P12 per liter. Recently, amid the soaring pump prices in the Philippines, DOE Sec. Sharon Garin spoke on the oil supply in the Philippines.
Based on a post of News5, DOE Sec, Sharon Garin stressed that the oil supply in the Philippines is “steady” and “manageable”. According to her, the department is doing everything it can to ensure that the country has enough oil supply despite the war in the Middle East.
According to the DOE Secretary, the Philippines’ oil supply can allegedly last for up to 45 days as of now. Based on the post, she stressed that they are building a buffer with regards to the country’s oil supply.
“We are building our buffer despite the limitations… Our team is hard at work trying to make sure that kahit po isa o dalawang araw ‘yan, that is a very important addition para sigurado na our country does not run dry,” the DOE Secretary said.
Garin made the remarks during a press conference. She assured that the supply is still manageable.
“So far, manageable pa ‘yung supply natin,” she expressed.
Recently, amid the soaring oil costs in the Philippines, the Palace announced that Pres. Bongbong Marcos ordered the creation of a crisis committee to focus on the situation.