Rowegie Abanto

Motorists line up at a gasoline station along Philcoa in Diliman, Quezon City on Friday, March 6, in a rush to refuel ahead of the expected fuel price increase next week. Maria Tan, ABS-CBN News/File

Motorists line up at a gasoline station along Philcoa in Diliman, Quezon City on Friday, March 6, in a rush to refuel ahead of the expected fuel price increase next week. Long queues of cars and motorcycles formed as drivers tried to fill up before the anticipated hike in gasoline and diesel prices.  Maria Tan, ABS-CBN News

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OIL PRICE HIKE

Hernel Tocmo

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/177483685041020260306-oil-price-hike-refueling-MT10.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Motorists line up at a gasoline station along Philcoa in Diliman, Quezon City on Friday, March 6, in a rush to refuel ahead of the expected fuel price increase next week. <em>Maria Tan, ABS-CBN News/File</em></span></span></span></div><div><br/></div><p>DAVAO CITY — Malaysian multinational oil and gas company Petroliam Nasional Berhad (Petronas) has denied reports of sealing a fuel supply arrangement with a local government unit in the Philippines, saying it is focused on ensuring there is enough oil within its own country.</p><p>The statement came after Davao del Norte Governor Edwin Jubahib said on Wednesday that <a href="https://www.abs-cbn.com/news/business/2026/3/27/davao-del-norte-eyes-buying-oil-form-malaysia-1029">the province was in talks with a representative of the King of Malaysia to purchase about 44 million liters of diesel </a>amid the oil crisis in the Philippines.</p><p>&quot;PETRONAS wishes to clarify that it is not aware of, nor involved in, any such arrangement, and has not entered into any related agreement or commitment,&quot; the firm said in a media release posted on its website on Sunday, March 29.</p><p>It said it is focused on securing fuel supply for Malaysia.</p><div><a href="https://www.abs-cbn.com/news/regions/2026/3/26/fact-check-nigerian-prince-to-supply-oil-to-davao-city-2104">RELATED: FACT CHECK: ‘Nigerian prince’ to supply oil to Davao City?</a></div><p>The US-Israeli war with Iran has disrupted the flow of oil and gas through the Strait of Hormuz, a key shipping lane that carries about 20 percent of the world&#x27;s oil, leaving Southeast Asian governments rushing to secure their own supply.</p><p>President Ferdinand Marcos Jr. said Friday that the Philippines <a href="https://www.abs-cbn.com/news/nation/2026/3/27/marcos-philippine-crude-oil-supply-enough-until-end-of-june-0855">has enough crude oil</a> supply to last until June 30.</p><p>The provincial government of Davao del Norte has yet to issue a statement on the matter.</p><div><br/></div><div><strong>RELATED VIDEO</strong></div><div><strong><br/><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/1_ooSvx3eFc?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></strong><br/></div>

<p>Malaysian multinational oil and gas company PETRONAS has denied reports of sealing a fuel supply arrangement with a local government unit in the Philippines, saying it is focused on ensuring there is enough oil within its own country.</p>

Malaysian multinational oil and gas company PETRONAS has denied reports of sealing a fuel supply arrangement with a local government unit in the Philippines, saying it is focused on ensuring there is enough oil within its own country.

Petronas Malaysia denies fuel supply arrangement with Davao del Norte

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Petronas Malaysia denies fuel supply arrangement with Davao del Norte

Hernel Tocmo

Published March 30, 2026 10:28 AM PHT

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PETRONAS

Malaysia

Davao del Norte

Edwin Jubahib

Oil Crisis

Fuel

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