The Department of Energy (DOE) has confirmed that it is coordinating with oil companies to lessen the impact of the recent sharp increase in petroleum prices across the country.
Oil firms began implementing this week’s “bigtime oil price hike” in two phases to avoid surprising the public, especially motorists. The increase ranges from ₱3.50 to ₱7.00 per liter, depending on the fuel type and location. The hike follows movements in global oil prices.
The staggered implementation was a result of meetings between DOE Officer-in-Charge Sharon Garin, Undersecretary Alessandro Sales, and representatives from oil companies.
“Our dialogue with industry players today [June 23] reflects our shared commitment to balance economic realities with the need to shield our people from sudden price shocks, and we are pleased to report that they have responded positively to our request,” Garin said in a statement released by the DOE.
“We have also urged oil companies to increase the number of their retail stations offering fuel discounts to the transport sector. This forms part of our broader efforts to alleviate the burden on vulnerable groups. We will address this in detail during our individual meetings with the oil companies on Wednesday, 25 June 2025,” she added.
Sales, who heads the DOE’s Oil Industry Management Bureau (OIMB), stressed the need for strong collaboration between the public and private sectors to find practical solutions to the rising cost of petroleum products.
“We are closely monitoring global oil price benchmarks and foreign exchange trends, but we also urge them to exercise prudence in passing on cost changes to consumers. Much of the recent price volatility is being driven not by actual supply disruptions, but by speculative trading due to geopolitical uncertainties,” Sales said.
Garin is scheduled to meet today, June 24, with officials of the Department of Transportation (DOTr) and Department of Agriculture (DA) to discuss what forms of support the national government can provide to affected drivers and farmers if price increases continue.
The DOE is also urging the public to conserve fuel whenever possible to help reduce individual expenses.
