Reduce 98% oil import dependence for true energy sovereignty.

Central bank forced to hike rates sharply (possibly to 7–8%+) → higher borrowing costs → recession.

Oil spike → more USD demand → peso weakens → imports cost more → inflation surges (food = 40–55% of inflation basket; +$10/barrel oil adds 0.6% inflation).

Philippines’ energy is 100% tied to USD → every oil spike increases dollar demand → peso devaluation.

Indonesia forces cheap domestic coal sales to the state; Thailand/Indonesia have 6 refineries each; South Korea uses nuclear at 80% capacity; Singapore is a net fuel exporter with 3 refineries and price caps.

PH oil firms (private + PNOC) paid ABOVE market prices to secure supply in the 2026 crisis.
Tight global markets + Middle East disruptions = 10-20% premiums on spot buys, high freight/insurance, & transfer pricing by multinationals inflating landed costs.
95% imported fuel isn’t cheap.

The global benchmark for crude oil prices is Brent Crude (also known as Brent Blend).

📍 PH has enough fuel (45-60 days stock, no shortage) but pump prices are skyrocketing.
Why? Local pump prices DIRECTLY FOLLOW WORLD MARKET prices.
Global crude oil exploded due to US-Israel strikes on Iran & Strait of Hormuz chaos. PH imports 90% from Middle East + deregulated system = full pass-through of global prices.
Geopolitics, not conspiracy.

Spanian walked Brussels expecting Europe's beauty but saw decay: rubbish everywhere, sex shops, piss stench, high shootings near North Station, Europe’s most dangerous South Station w/ public defecation & drugs. At EU HQ: perfectly fitting. Verdict: rotten to the core.
https://www.youtube.com/watch?v=YVLPU6KXGUY

Amid PH fuel crisis & Senate probe, Marcoleta claims oil firms earn ₱3B/day profits. Ang fires back: “Not Petron!” Offers full books to COA/public audit. “We’re not exploiting the crisis.” Securing more supply.