NextGen Day

MANILA – Secretary of the Department of Energy (DOE) Alfonso G. Cusi reassured the public on Wednesday that the country’s oil supply is sufficient despite the Russia-Ukraine war.

Cusi, on the other hand, warned against the likelihood of price rises in the domestic market as a result of higher worldwide market movements.

“We don’t have a supply problem because we get our crude oil mostly from the Middle East and our finished products from Asia-Pacific,” Cusi noted at the virtual Kapihan sa Manila Bay Forum with Marichu Villanueva that the influence of the Ukraine crisis on worldwide oil markets has a direct impact on our prices.

Cusi reiterated his call for “energy efficiency and conservation measures during this critical period” from everyone.

The situation between Russia and Ukraine, according to Cusi, emphasizes the need of achieving energy security and independence for a country like the Philippines.

“As a fuel importer, our country is once again at the mercy of global price fluctuations. He emphasized that “we must seek to reduce our reliance on others for our energy needs.”

Efforts to resolve oil-related concerns

Cusi stated that the DOE has been pursuing a variety of strategies to combat rising oil prices.

He said the DOE has been in continual cooperation with oil firms for promotional programs that extend fuel reductions to the public transportation sector as a short-term solution.

He added that the Land Transportation Franchising and Regulatory Board’s PHP2.5 billion “Pantawid Pasada Program” and the Department of Agriculture’s PHP500 million gasoline discount program for farmers and fisherfolk in the 2022 budget will assist minimize the impact of oil price spikes.

Long-term solutions, he said, include amending the Oil Deregulation Law, suspending the fuel excise tax, constructing the appropriate Strategic Petroleum Reserve infrastructure, assuring Minimum Inventory Requirements, and launching a major campaign to promote energy efficiency and conservation.

“President Duterte’s latest command was crystal clear: make the transition of programs to the next administration as easy as possible. This is exactly what the Department of Energy has been doing. “All of these developments have been put in place to pave the path for a better energy future,” Cusi remarked. (

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