Philippine manufacturers facing rising fuel costs and global uncertainty are being presented with alternative energy supply options, as the private sector moves to cushion the impact of geopolitical tensions.
Sergio Ortiz-Luis Jr., a director at the Philippine Chamber of Commerce and Industry (PCCI), said local firms have received multiple fuel supply offers from overseas partners, an indication that availability is not the main issue.
“Sa pag-usap-usap namin, napatunayan namin di magkakaroon ng shortage… There is no shortage of offers,” he said, adding that potential sources now extend beyond traditional Middle East routes.
Ortiz-Luis noted that shipments are being proposed through alternative routes, including the Panama Canal and parts of Asia. However, these offers are often handled discreetly and coursed through government channels due to sensitivities among exporting countries.
He said the PCCI has elevated the proposals to Finance Secretary Frederick Go, who has committed to review them. Coordination between the private sector and government is ongoing to help ensure stable supply and avoid disruptions.
Despite reassurances on supply, Ortiz-Luis emphasized that rising prices remain the bigger concern. He flagged pricing practices in the oil industry, noting that pump prices have increased even when inventories were acquired at lower costs.
While the group is not advocating a return to full regulation, it is pushing for targeted reforms, including emergency pricing mechanisms. Such measures, he said, could help stabilize costs during crises without discouraging future imports—an increasingly delicate balance as global energy risks persist.
