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PHL National Fuel Reserve
« on: May 24, 2018, 10:32:01 AM »
Press Release
KABAYAN Party-list
Member, Transportation, Good Government & Public Accountability,
Public Order & Safety, Justice, and 12 other committees
Mobile: 0917 729 2437 

Long-term solution to oil price hike woes:


Our country needs a fuel reserve inventory similar in concept to the NFA rice inventory. 

The fuel reserve can be placed under the control of the Secretary of Energy or of the Energy Regulatory Commission. The reserve can be stocked with fuel bought when crude oil and fuel prices are low and the stocks can be released into the local market, either indirectly through the oil firms or directly to government-owned gas stations, when fuel prices rise. 

Gawin lang  mas maganda kaysa sa sistema ng NFA rice inventory ang mangyari sa DOE fuel reserve, para maging mabisa ang impact nito sa presyo ng gasolina, diesel, kerosene, at LPG sa merkado. Maraming henyo sa DOE at ERC. Tiwala akong kaya nilang balangkasin ang mga detalyeng magpapatupad ng fuel reserve ng bansa.

This, I  believe, is one viable long-term solution to the Philippines’ vulnerability to increase in world oil prices because we are an oil-importing country. Managing the fuel prices by injecting fuel bought at lower costs can tame or temper fuel price hikes.

A national fuel reserve would entail billions worth of investments in the infrastructure needed to store the fuel in Luzon, Visayas, and Mindanao.

These investments will generate jobs. It can attract OFWs working in the oil fields of the Middle East to come back home to work at the fuel reserve and facilities. We just have to pay them at the same rates as in the Middle East.

Kailangan na lang timplahin ng Department of Energy at ng ERC kung gaano karami ang fuel reserve supply na dapat naka-standby. Sila ang mas nakakaalam ng tamang timpla. Ang range malamang niyan ay mula 5 percent to 20 percent ng monthly fuel consumption needs ng ating bansa. 

Maaring isama ng NEDA sa long-term plans nila ang investment na kailangan para isama ang fuel reserve depots at government gas stations sa Build Build Build infrastructure programa ng pamahalaan. (END)

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