MANILA, Philippines — The Philippines has secured a critical extension to access Russian crude and petroleum products, providing a significant boost to the local energy supply as global oil market volatility continues. On Monday, April 27, 2026, the Department of Energy (DOE) announced that a new United States-granted waiver will allow the country to purchase Russian fuel until May 16, 2026.
This development coincides with the third consecutive week of significant fuel price rollbacks, offering much-needed relief to Filipino consumers and transport workers.
Energy Undersecretary Alessandro Sales confirmed that the new waiver period spans from April 17 to mid-May, following the expiration of the previous agreement on April 11.
- Russian Shipments: Petron Corp., the country’s sole refiner, has already acquired 2.48 million barrels of Russian crude to stabilize its stockpile through June.
- Government-Secured Diesel: Four shipments totaling 178.33 million liters of diesel have arrived in the country.
- Energy Security: As of April 24, the Philippines maintains a fuel inventory sufficient for 54 days.
Energy Secretary Sharon Garin emphasized the importance of diversifying suppliers: “As the Middle East conflict continues, our priority is to ensure that the Philippines remains prepared, adequately supplied, and able to respond swiftly to developments.”
Starting April 28, 2026, fuel retailers are expected to implement substantial price cuts:
- Diesel: A decrease of at least P12.94 per liter, bringing pump prices to a range of P75.93 to P107.06 in Metro Manila.
- Kerosene: A drop of at least P15.71 per liter.
- Gasoline: A slight upward adjustment of up to 53 centavos per liter.
These rollbacks follow a period of extreme inflation, where diesel prices peaked at nearly P170 per liter following the escalation of conflicts in the Middle East earlier this year.
In a parallel development, Grab Philippines announced a P350-million relief package for its drivers and delivery partners.
- Financial Assistance: The fund covers commission rebates, fuel subsidies, and trip incentives to help partners navigate the high cost of living.
- Sustainable Solutions: Grab has introduced bicycle subsidies for delivery riders looking to transition away from fuel-dependent vehicles.
- Additional Perks: High-performing partners may also receive grocery credits and medical vouchers.
The DOE continues to monitor global developments, particularly the ongoing tensions in the Middle East and East Asia, to ensure market stability and the continuous flow of essential fuel products to the archipelago.