Politics · Philippines Bureau
Senator calls for stronger fuel reserves to stabilize prices
A Philippine senator has urged the Department of Energy to bolster the nation's strategic petroleum reserves as a measure to ensure consistent fuel supply and help ease pressure on consumer prices.
LSN Philippines ·
Sen. JV Ejercito made the appeal during hearings before the Senate Committee on Finance, highlighting the need for the DOE to prioritize building up fuel stockpiles to address supply vulnerabilities. The senator emphasized that adequate strategic reserves would provide a buffer against price volatility and supply disruptions in the global petroleum market.
Ejercito's call comes amid persistent concerns over fuel price fluctuations affecting consumer spending and transportation costs across the archipelago. By strengthening reserves, the DOE could better manage supply chains and mitigate the impact of international market shocks on domestic fuel prices.
The senator's proposal underscores ongoing efforts in the legislative branch to address energy security and affordability challenges facing Filipino households and businesses. The Department of Energy has been tasked with implementing measures to stabilize the domestic energy sector.