The Philippines' fuel inventory has risen to approximately 51 days as of March 27, up from the 45 days this paper has tracked since March 29. [1] The improvement came after a diesel shipment from Japan and the government's push to diversify supply sources away from Gulf dependence. [2] President Marcos Jr. announced on March 27 that the country holds enough crude oil to last until the end of June. [3]

The numbers are better. The situation is not resolved. The national energy emergency declared on March 25 remains in effect. Government agencies continue operating on a four-day workweek with mandatory fuel and electricity cuts of 10 to 20 percent. [4] Rotating brownouts persist across Luzon, the Visayas, and Mindanao. Bloomberg reported that the Philippines is actively pursuing supply from the Americas -- a significant logistical and cost shift for a country that has historically relied on shorter Gulf shipping routes. [5]

Fifty-one days is not safety. It is arithmetic that buys time. The Strait of Hormuz remains closed. The Philippines imports approximately 95 percent of its crude oil. Every day the blockade continues, the reserves are a countdown.

-- DAVID CHEN, Beijing