PH fuel supply good for 45 days — DOE's Garin

The country's fuel stock remains steady and is expected to last for nearly 45 days, the Department of Energy (DOE) said Tuesday.

"Sa ngayon po, our fuel inventory remains sufficient. Maganda po yung supply natin, steady siya. Hindi siya bumababa na nakakatakot na level. It has maintained a very healthy level until now since the start of the war. There is no disruption to the supply," Energy Secretary Sharon Garin said in a virtual presser.

(As of now, our fuel inventory remains sufficient. Our supply is in good shape and steady. It hasn't dropped to an alarming level. It has maintained a very healthy level until now since the start of the war. There is no disruption to the supply.)

As of July 24, the DOE said the expected available days for the supply of the following petroleum products are as follows:

• Gasoline: 44.79 days
• Diesel - 42.38 days
• Kerosene - 125.76 days
• Jet Fuel - 77.12 days
• Fuel Oil - 37.75 days
• LPG - 35.77 days

Although fuel companies have implemented another round of big-time pump price increases this week, the department said there are global developments that could possibly lower fuel prices next week.

"While we did have an increase this week, there have been developments since Friday and into Monday that have caused the price to go down rapidly, I think this is because China has now entered into the picture and they have been invited to participate in third party negotiations through Pakistan," said DOE Undersecretary Alessandro Sales in the presser.

"The other news, the two parties: the US and Iran, have halted missile strikes against each other," he said.

"So these two positive signals have pulled down the price in Friday trading as well as last night's trading. Glimmer of hope there that potentially this week will bring us lower prices for next week," he added. — RSJ, GMA News