It is seen as a mechanism that will protect member states from supply disruptions during times of crisis.
At the 48th Association of Southeast Asian Nations (ASEAN) Summit on Friday, May 8, President Ferdinand Marcos, Jr. disclosed that the leaders have discussed the development of a regional fuel reserve for various oil and petroleum products.
According to him, the proposed mechanism will be similar to ASEAN’s emergency rice reserve system, which enables member-countries to assist one another during food shortages and emergencies.
Marcos said, “The one thing that we talked about that concerned fuel supply was a fuel reserve. To put together a fuel reserve is something like the emergency rice reserve.”
The Philippine chief executive then noted that ASEAN member states face varying energy supply situations, with some countries having surpluses of certain fuel products while others experience shortages.
“Because the situation right now is very different from each country. Some countries have a surplus of a certain kind of fuel, other people have a shortage, and we’re trying to balance that out,” he told.
As regards to the proposed reserve system, it will serve as an emergency supply buffer in the event of wars, geopolitical tensions, or disruptions in major trade routes such as the Strait of Hormuz in light of the recent war waged by the United States and Israel against Iran.
“But beyond that is the reserve, so that we have something in reserve,” Marcos furthered.
He also clarified that while ASEAN members will continue to make individual arrangements to secure their own fuel supply, the regional grouping is working toward a cooperative mechanism that would allow member states to access shared reserves when needed.
“So we are trying to even out those differences between countries. We are making our own arrangements, but at the same time we are coming together and developing the idea that we will have a fuel reserve, all the kinds of fuels, all the different kinds of fuel: crude oil, all the way to jet fuel, all the way to the most refined fuel,” he added.
“And should such a thing happen again, then there is a reserve that we can all avail of,” he expressed optimism that such disruptions would not happen again through regional cooperation.
UNITY AMONG ASEAN NEIGHBORS
At the gala dinner, President Ferdinand Marcos Jr. underscored the importance of unity and regional cooperation among Southeast Asian nations amid tensions in the Middle East.
Marcos said ASEAN continues to demonstrate resilience through collective action and a shared commitment to regional stability during times of uncertainty.
“Your presence here has given real meaning to this Chairship and affirmed that, even in a more uncertain world, our region remains strongest when it moves forward together,” he said. “As we leave this Summit, may we do so with a clearer sense of purpose, a stronger commitment to one another, and the confidence that ASEAN can continue to shape a region that is resilient, innovative, dynamic, and people-centered.”
He also stressed that no ASEAN Member State can confront global instability alone, but also highlighted that none of the Member States should feel that it must face these challenges alone.
Marcos then acknowledged that the Philippines had initially envisioned a different atmosphere for the country’s ASEAN Chairship, one centered on cultural celebration and regional camaraderie.
But that was later scrapped as geopolitical developments shifted the summit’s focus toward pressing security concerns.
“This was not the Summit we originally envisioned,” he said. “When the Philippines assumed the Chairship, we had prepared to welcome you under different circumstances—to share more of our country, to celebrate our culture, and to show, in a richer way, the spirit and hospitality of the Filipino people. Instead, we have been asked to respond to a very different moment.”
According to President Marcos, ASEAN ministers used the series of ministerial meetings leading up to the summit to prioritize key regional concerns, particularly energy security, food security, and the safety and welfare of ASEAN nationals amid ongoing global tensions.
“These were not easy discussions, but they were necessary ones,” President Marcos noted, adding that regional cooperation must deliver concrete benefits to the people of ASEAN, particularly during times of crisis.
“If there is one lesson that recent weeks have reinforced, it is that regional cooperation must ultimately serve people in practical ways,” he said. “Our citizens do not measure our success by the number of inspirational statements that we issue. They measure it by whether their communities are more secure, whether their livelihoods are protected, and whether their children can face the future with confidence.“
Despite these, the President emphasized that the summit reaffirmed ASEAN’s enduring strength and solidarity.
He also noted that ASEAN’s identity and success were built not on individual achievements, but on cooperation, mutual trust, and a common vision for regional connectivity and progress.
ASEAN CALLS FOR PEACE IN THE MIDDLE EAST
Meanwhile, the entire Association of Southeast Asian Nations (ASEAN) has called for peace in the Middle East to allow parties in the conflict to work on finding a lasting solution to the geopolitical issue.
President Marcos delivered these remarks before members of the media after leading the 48th ASEAN Summit in Cebu.
“Peace. That is, it’s that simple. Peace. And we have made that position very clear,” he expressed the stand of the entire bloc. “We have the foreign ministers when they met previous to this summit, already put out that document calling for all parties to cease hostilities and to take a step back, open the Strait of Hormuz, and find a way for a lasting peace.”
Having peace now would be fundamental to any discussion about the war in the Middle East that involves the U.S., Israel, and Iran, the President emphasized, adding that it will be the first step, as the warring parties will achieve absolutely nothing until there is peace.
The President described the situation as “very difficult,” especially how the world is now in limbo where many things remain uncertain.
The severe restrictions in oil flows, particularly in the Strait of Hormuz, have affected the movement of goods causing inflation, pushing up the cost of living, and threatening food security of millions across the globe.
