By Erika Mae P. Sinaking, Reporter
THE PHILIPPINE government is studying possible measures to cushion the impact of rising fuel prices as renewed tensions within the Middle East threaten global oil supplies, Malacañang said on Wednesday.
President Ferdinand R. Marcos, Jr. has ordered concerned agencies to evaluate the situation and ensure assistance reaches sectors most vulnerable to higher fuel costs, Palace Press Officer Clarissa A. Castro told reporters.
The Department of Energy earlier said developments within the Middle East proceed to place upward pressure on domestic pump prices and that it has stepped up fuel price monitoring as market volatility persists.
Ms. Castro said the Department of Transportation is evaluating additional interventions, including assistance for affected sectors, but didn’t specify possible measures.
“As of now, we’ve spoken directly with [Transportation] Secretary Banoy [Giovanni Z. Lopez], and he has been tasked to review the situation, as there’s a have to balance circumstances because when fare prices increase, the costs of other products will certainly increase as well,” she said in Filipino.
“So, the President’s wish is for nobody to be left behind; everyone have to be helped in the best way and in a balanced manner,” Ms. Castro added, but declined to say whether the administration would approve pending fare hike petitions or suspend excise taxes on gasoline and diesel, saying discussions proceed.
Energy Secretary Sharon S. Garin earlier noted that renewed military strikes between the USA and Iran have reignited concerns over the safety of energy shipments through the Strait of Hormuz.
Since the Philippines is a net importer of petroleum products, with a heavy reliance on Middle Eastern supplies, these geopolitical shocks translate on to higher domestic costs.
Transport group Pasang Masda requested the President to reinstate the one-peso fare increase that was suspended in March. This request comes on the heels of this week’s price hike where diesel increased by greater than P4 per liter. Ms. Castro said that this can be a part of the continuing review.
“Again, Secretary Lopez also mentioned that that is being studied concurrently at the moment to be sure that the help we offer to our fellow residents within the transport sector is suitable, in order that they should not left behind. Our support for our fellow residents who’re consumers also continues,” she said.
This week, major retailers like Seaoil Philippines, Inc. and Shell Pilipinas Corp. raised pump prices by P1.00 for gasoline, P4.60 for diesel, and P2.30 for kerosene.
In April, the federal government temporarily suspended the excise taxes on kerosene and liquefied petroleum gas (LPG) for 3 months to cushion the impact of upper oil prices triggered by the Middle East conflict. Nonetheless, the excise tax rates on kerosene and LPG reverted to their original levels on July 8 after the typical Dubai crude oil price fell below the brink set under the law.
Ms. Castro said the federal government continues to be studying the removal of excise taxes for gasoline and diesel.
“As of now, no update has been relayed to us,” she said.
Hunted for comment, Jose M. Layug, Jr., executive board member of the Philippine Energy Research and Policy Institute, said the federal government appears more prepared this time in responding to grease market disruptions.
“While the federal government is best prepared with its response and assistance programs, it is absolutely imperative to fast-track the transition to other types of transportation that rely less on oil,” Mr. Layug told BusinessWorld over Viber.
He said that short-term interventions won’t solve the country’s long-standing vulnerability to global fuel shocks.
“We want to shift to electric vehicles, each for personal and public sectors, and improve our public transportation system to make sure lesser impact to the Filipino consumers and riding public,” he added.
As of July 10, the national fuel inventory stood at roughly 47.87 days of supply, an improvement from the previous 46.50 days. This inventory is supported by a median every day demand of roughly 78.08 million liters as of March 2026.
Broken down by product, the country maintains 48.17 days of gasoline, 45.69 days of diesel, and a considerable 148.98 days of kerosene. Other critical fuels like jet fuel and fuel oil have supplies lasting 80.09 days and 33.37 days, respectively, while liquified petroleum gas (LPG) inventory is at 39.51 days.