MANILA, Philippines —San Miguel Corporation President and CEO Ramon Ang assured the public that his company will not exploit the ongoing fuel crisis, emphasizing that Petron Corp. will maintain fair pricing and stable supply despite global oil market disruptions.

Ang made the statement after meeting with President Ferdinand Marcos Jr. on March 27, 2026, during the ceremonial turnover of the Toll Operation Permit for the newly opened NAIAX Westbound Off-Ramp in Pasay City. The brief encounter quickly shifted to discussions on the country’s fuel supply stability, as the Philippines grapples with the impact of Middle East tensions on global energy markets.

Ang, whose conglomerate San Miguel Corporation owns Petron Corp., the country’s largest oil refiner, said that while fuel prices are rising due to international supply chain disruptions, Petron will not take advantage of the situation. “We will not take advantage of this fuel crisis,” Ang stressed, adding that the company is committed to ensuring that Filipinos have access to affordable and reliable fuel.

President Marcos recently declared a State of National Energy Emergency, directing government agencies to adopt urgent measures to stabilize energy supplies and prevent hoarding. The declaration was prompted by hostilities in the Middle East involving the United States, Israel, and Iran, which have disrupted oil shipments through the Strait of Hormuz, a critical global energy route.

Bloomberg reported that the Philippines faces an “imminent danger of a critically low energy supply,” with the Department of Energy tasked to conserve fuel and ensure availability of essentials, including food and medicines.

Ang’s assurance is seen as crucial, given Petron’s dominant role in the Philippine fuel market. Analysts note that if Petron maintains stable supply and refrains from excessive price hikes, it could help ease inflationary pressures and prevent panic buying.

The statement also reflects San Miguel’s broader positioning as a stabilizing force in the economy, with Ang highlighting the company’s responsibility to support consumers during crises.

This development underscores the delicate balance between corporate responsibility and market realities as the Philippines braces for further volatility in global oil prices. Ang’s pledge not to exploit the crisis provides some relief to motorists and businesses already struggling with rising costs.