Department of Energy (DOE) Secretary Sharon Garin said the Philippines has been the hardest hit in Southeast Asia by rising fuel prices due to the Middle East crisis, largely because other countries subsidize petroleum costs.
Speaking at a virtual briefing, Garin explained that in many neighboring countries, governments shoulder part of the cost to keep pump prices low.
“Ibig sabihin… parang subsidized lang ‘yung presyo. ‘Pag bumibili ka sa gas station, may binabayaran ang gobyerno diyan para hindi napakataas ‘yung presyo,” she said.
Fuel Prices Surge Across the Philippines
The DOE reported steep increases in fuel prices this week. Gasoline prices rose by P8 to P12 per liter, pushing RON97 prices to P87.69–P112.40 per liter, RON95 to P83.10–P109.78, and RON91 to P82.60–P102.50.
Diesel saw even bigger hikes, increasing by P15 to P18 per liter, with prices now ranging from P107 to P134.30 per liter. Diesel Plus is priced between P114.99 and P144.20 per liter.
Kerosene prices also jumped by P12 to P22 per liter, now ranging from P111.99 to P165.79 per liter.
Import Dependence and Deregulation Limit Intervention
Garin pointed out that the Philippines imports about 99% of its petroleum, making it highly vulnerable to global price shocks. She added that the country’s deregulated downstream oil industry prevents the government from directly controlling fuel prices.
“This is an unregulated industry…so we leave it to the companies to determine the price. The government does not dictate the price. It is competition among the companies that determines the movement of prices,” she said.
The DOE chief also cited excise taxes and value-added tax (VAT) as contributing factors. While reforms are needed, Garin stressed that greater government control over fuel prices would require legislative action.
Risks of Shortages and Public Concern
Analysts warn that with rising global prices, prolonged supply disruptions could lead to local fuel shortages. If stocks run critically low, this could trigger panic buying, long lines at gas stations, and increased costs for transport and essential goods.
Garin noted that while the current supply is stable, any sudden spike in international oil prices or logistical delays could intensify the impact on everyday Filipinos.
“We urge the public to remain calm and avoid panic buying. The government is monitoring supply closely, but global factors are beyond our control,” she said.
