Press Statement on Current Fuel Supply

As a matter of transparency, the Department of Energy (DOE) keeps the public abreast on international oil situation particularly, the factors affecting oil pricing. In line with this, the DOE would like to clarify that its recent announcement was made in view of the rising oil prices as a result of the ongoing tensions in Iran that threatens the closure of the Strait of Hormuz, a key sea oil trade route in the Arabian Gulf. Since this situation is widely known in the international arena, the DOE was asked what will the agency do in the event that the tension escalates, to which the DOE replied that it has a contingency plan. However, the execution of this plan is not imminent as the DOE stresses that current supply situation continues to be normal amidst increasing oil prices.