MANILA — The Bureau of Customs (BOC) announced that it will inspect oil depots and monitor fuel importations to prevent hoarding and supply manipulation, following rising tensions in the Middle East that could affect global oil supply.

In a report, BOC Assistant Commissioner Vincent Philip Maronilla said the agency is coordinating with petroleum importers and other government bodies to ensure that fuel supplies are properly documented and distributed.

“Well, ang ginagawa namin ngayon ay nakikipag-coordinate kami sa mga importers natin ng petroleum products para tingnan ang kanilang supply sa ngayon,” he said at the Bagong Pilipinas Ngayon public briefing.

(We are coordinating with petroleum product importers to check their current supply.)

Maronilla added that the BOC will use its visitorial powers to conduct inspections of oil depots.

“Sisiguraduhin namin na iyong mga laman ng mga depots ng iba’t ibang petroleum companies ay legal na nai-angkat… at walang hoarding na nangyayari.”

(We will ensure that the contents of petroleum depots of different petroleum companies were legally imported and that no hoarding is taking place.)

The agency is working with the Department of Energy and the Department of Trade and Industry to monitor supply levels and market practices. Maronilla said authorities will also verify the declarations of incoming fuel shipments to ensure accurate reporting.

“Titingnan namin talaga kung ano talaga iyong laman noong kani-kanilang mga deklarasyon para accurate rin ang makapasok na data kung ilan talaga ang naiangkat at ilan ang suplay natin,” he said.

(We will verify the contents of their declarations so that the data on how much was imported and how much supply we have is accurate.)

So far, the BOC reported no irregularities in fuel imports. Maronilla urged the public to remain calm and avoid panic buying.

“Kami po ay nananawagan sa ating publiko na huwag muna po tayong mag-panic buying,” he said.

(We call on the public not to engage in panic buying.)

The Middle East conflict began after a joint US-Israel airstrike operation reportedly targeting Iran’s government, which has since led to retaliatory strikes on US facilities in the region. The Philippines imports 98% of its crude oil from the affected area.

Energy Secretary Sharon Garin earlier said that pump prices are expected to rise by P17 to P24 per liter this week, with the increase spread over seven days.