DOE Urges Staggered Fuel Price Hikes Amid Israel-Iran Tensions to Ease Consumer Impact

With global oil prices rising due to escalating tensions between Israel and Iran, the Philippine Department of Energy (DOE) is taking steps to protect consumers and ensure energy stability.

DOE Officer-in-Charge Sharon Garin on Tuesday emphasized the agency’s “proactive and targeted” approach, appealing to oil industry players to stagger local fuel price increases, especially during sharp global price surges. “This minimizes disruption to our economy and shields our people from price shocks,” Garin said.

As of June 16, Dubai crude stood at $73 per barrel. Should it breach the $80 threshold, automatic fuel subsidies will be activated for the transport and agriculture sectors.

The 2025 national budget includes ₱2.5 billion in subsidies for public transport drivers and ride-hailing operators via the Department of Transportation. The Department of Agriculture also has ₱585 million earmarked for farmers and fisherfolk.

Garin added that the DOE is closely monitoring oil inventory levels—mandating a 30-day supply for crude oil and 15 days for finished petroleum products—and will continue analyzing global market trends to shape data-driven policy decisions.

The DOE’s primary focus remains maintaining a stable fuel supply while cushioning vulnerable sectors against rising energy costs.