Lacson urges calm over oil supply concerns

By Glazyl M. Jopson

BACOLOD CITY — Negros Occidental Gov. Eugenio Jose Lacson urged the public to remain calm and avoid panic buying amid growing concern over a possible oil supply crunch tied to tensions in the Middle East.

Lacson said he joined a virtual briefing for local chief executives Tuesday led by the Department of Energy to discuss the country’s oil supply situation and contingency plans at the local level.

He said the meeting underscored the need for close coordination among local government units to help ensure energy security if the situation worsens.

During a media briefing Wednesday, Lacson said Energy Undersecretary Felix William Fuentebella reported that the Philippines still has more than 30 days’ worth of oil inventory.

He said the national government is also exploring alternative oil sources in case key routes such as the Strait of Hormuz are disrupted.

As a precaution, Lacson said local government units are being encouraged to cut fuel consumption by as much as 20%.

He said suggested measures include limiting unnecessary travel and reducing vehicle use.

Despite the concern, Lacson said normal economic activity, including bulk purchases by sugar farms, may continue because these are routine operations and are not considered hoarding.

On fuel prices, Lacson said the Department of Energy still considers local prices reasonable compared with global market rates.

He warned, however, that prolonged instability could eventually drive prices higher and affect basic goods such as rice because of rising diesel costs.

“There is no need for panic buying. The supply is there,” Lacson said.

“If the situation continues, we really need to tighten our belts. I hope the situatopn improves in the Middle East,” he added.

He also called on the private sector to help conserve resources and urged the public to avoid nonessential travel.

Lacson expressed hope for a peaceful resolution, saying the country continues to pray for stability amid the ongoing crisis.

“We are a very Catholic country. We pray that a solution to this crisis will soon be found,” he said.