Marcos floats possible fuel reserve for emergency supply among ASEAN countries

LAPU-LAPU CITY, Cebu — President Ferdinand “Bongbong” Marcos Jr. on Friday said that member states of the Association of Southeast Asian Nations (ASEAN) are planning to put up a fuel reservoir that the region could use in times of emergency.

Marcos announced this proposal in a press conference in Cebu at the culmination of 48th Association of Southeast Asian Nations (ASEAN) Summit and Related Meetings that were hosted by the Philippines as chair of the bloc for 2026.

“The one thing that we talked about that concerned fuel supply was a fuel reserve. To put together a fuel reserve is something like the emergency rice reserve,” the President said.

“That came up too because we talked about food, so to increase the emergency rice reserve that we share with one another when there is a crisis and enlarge that, but also the oil products, or different oil products reserve,” he added.

According to Marcos, the current situation, considering the Middle East crisis, differs for each country —some, he said, have a surplus of a certain fuel type, while others have a shortage.

He underscored the importance of having a fuel reserve so that ASEAN member states have somewhere to immediately run to for supply, in case of emergencies, such as when a war breaks out or a trade route like the Strait of Hormuz is closed.

“We are making our own arrangements, but at the same time, we are coming together and…developing the idea that we will have a fuel reserve, all the different kinds of fuel — crude oil, all the way to jet fuel, all the way to the most refined fuels,” Marcos said.

“So that when such a thing happens again, hopefully it will never happen again but you never know, and should such a thing happen again, then there is a reserve that we can all avail of,” he continued.

Marcos said that during the Summit, all leaders “immediately, unanimously agreed” on the principles of fuel sharing. The problem, he pointed out, is how the member states will implement it.

“Let's talk about the fuel reserve. Is it going to be in one single place? Is it going to be scattered to the whole of ASEAN?” Marcos said.

He also said the energy ministers of the member states have not even met yet, so “it's impossible to say” when the fuel reserve will be operationalized.

“They haven't laid out the timetable. But rest assured the minute we have it, we will inform you,” Marcos said.

Nevertheless, he expressed belief that ASEAN leaders “will not be wasting time with bureaucratic nonsense” and will not argue politics regarding the proposed fuel reservoir.

“I'm very optimistic because these are very, you know, we're talking about very smart people. And they have, and more importantly than that, they are committed to making this succeed because everyone is suffering and everyone wants to get out of the situation,” he said.

“We will be really working very hard to getting it done as quickly as possible in the best possible way,” he added. — BAP, GMA News