Brace Yourself: DOE Warns Another Fuel Price Hike Is Coming Next Week as Middle East Tensions Heat Up
Motorists, brace your wallets — another fuel price increase is likely hitting pumps next Tuesday. The Department of Energy warned on Wednesday that global oil market volatility, driven by escalating Middle East tensions, will continue to push prices up. This comes right after a ₱1.90 per liter hike that took effect just this week.
Energy Secretary Sharon Garin confirmed in a radio interview with Super Radyo dzBB that the government hasn't announced specific figures yet, but was blunt about the trajectory: 'Mag-i-increase tayo next week, Tuesday.' The year-to-date damage is already significant — gasoline is up ₱4.80 per liter, diesel up ₱8.20, and kerosene up ₱6.20 since the start of 2026. Some pump stations in Mindanao have already breached the ₱60 per liter mark.
The root cause? About 80 to 90 percent of the Philippines' fuel supply passes through the Strait of Hormuz, a critical shipping corridor now under threat from Middle East hostilities. Garin called it a 'major problem,' though she assured the public that oil companies have confirmed sufficient supply levels — at least two months' worth of fuel stock on hand.
On the policy front, Garin expressed support for amending the Oil Deregulation Law to give the government more regulatory muscle over oil companies. She also welcomed a proposed House bill that would authorize President Marcos to temporarily suspend fuel excise taxes during price spikes — though she stressed any such measure should not become permanent.
For ordinary Filipinos already stretched thin by nine consecutive weeks of price hikes, the news is a gut punch. Transport groups are likely to renew calls for fare adjustments, and household budgets will feel the squeeze on everything from jeepney fares to cooking gas. The DOE says it's studying measures to cushion the blow, but for now, all eyes are on next Tuesday's pump prices.
Source: GMA News
