The Department of Energy (DOE) announced on Monday that oil companies have agreed to stagger an impending fuel price hike originally scheduled as a one-time increase on Tuesday, in a move aimed at mitigating the impact on consumers.
Energy Officer-in-Charge Sharon Garin and Undersecretary Alessandro Sales met with representatives of oil firms to discuss the looming price surge. The companies reportedly responded “positively” to the government’s appeal for a more gradual implementation.
“To help ease the burden of significant price adjustments in the domestic market, particularly for the transport and agriculture sectors, the proposed staggered approach aims to soften the impact on Filipino consumers by spreading the price increases over a more manageable period,” the DOE said in a statement.
Diesel prices were projected to rise by approximately ₱5 per liter, while gasoline was expected to increase by as much as ₱3.50 per liter. These hikes are attributed to global supply concerns fueled by escalating tensions in the Middle East involving Israel, Iran, and the United States.
According to the DOE, oil firms were required to submit their staggered implementation plans — including detailed breakdowns of the adjustments — by 6 p.m. Monday.
Garin emphasized that the department cannot mandate how each company should carry out the staggered increases due to the deregulated nature of the oil industry.
“They need to assess their own financials. This is really a request made out of goodwill. We can’t impose this because the industry operates independently,” she explained.
Despite the voluntary nature of the agreement, Garin expressed gratitude for the cooperation shown by oil firms.
“This is a bayanihan effort — we’re all in this together,” she added.
In parallel, the government is also preparing a fuel subsidy program for public utility vehicle (PUV) operators and drivers, anticipating further volatility in oil prices as the Middle East conflict continues to escalate.
