Special Advisory: Updates on the National Energy Emergency and Related Disruptions - May 22, 2026
The Philippine government's buffer fuel supply is managed. The Department of Energy is not resuming state procurement due to storage limits, relying on private oil company procurement. Meanwhile, peace talks between US and Iran remain stalled.
Summary
- Movement in the Strait of Hormuz continues to be restricted and will likely remain so in the next two weeks, as naval blockades of the American and Iranian forces are still in effect over the Strait of Hormuz.
- Buffer fuel supply of the Philippine government remains managed, with 3.5 million liters of supply still in stock. The Department of Energy (DOE) is not yet looking to resume government-to-government procurement of fuel due to storage capacity limitations, but noted that fuel procurement of private oil companies continues.
- Oil industry experts are forecasting a PHP 1.00 to PHP 1.30 increase per liter for diesel and PHP 1.20 to PHP 1.50 per liter of gasoline on May 26. In the global market, Dubai Platts crude oil prices average at USD 102.43 (PHP 6,321.47) per barrel.
- The Land-Based Service Contracting Program (LBSP) ends today, May 22, due to the exhaustion of government funds for the initiative. It remains to be seen how the cessation of the program will affect availability of jeepney and city buses in Metro Manila. Meanwhile, the PHP 10 Fuel Subsidy Program remains available for public transportation operators.
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