Motorists are bracing for significant fuel price hikes this week, but the Department of Energy (DOE) has secured a staggered implementation of the adjustments to help ease the impact on consumers.
Starting Tuesday, 24 June, Shell and Seaoil will raise pump prices by P1.75/liter for gasoline, P2.60 for diesel, and P2.40 for kerosene, with a second hike of similar amounts on 26 June. Clean Fuel will implement its initial hike on 24 June at 8:01 a.m., and may delay the second phase until 27 June.
According to DOE OIC Sharon Garin, the staggered adjustments aim to “shield our people from sudden price shocks” amid rising geopolitical tensions involving Iran, Israel, and the U.S., which have pushed global oil markets into speculative volatility.
Fuel pump prices as of 23 June average P55.90 for gasoline, P53.40 for diesel, and P70.22 for kerosene. DOE undersecretary Alessandro Sales emphasized that current price fluctuations are largely driven by speculation rather than actual supply shortages.
The DOE said most fuel companies—including Petron, Shell, Caltex, Jetti, Phoenix, Total, and others—agreed to implement the increases in at least two phases, potentially on Tuesday and Friday, to spread the burden for motorists.
The DOE is also urging retailers to expand fuel discounts for public transport drivers and is coordinating with other agencies for targeted subsidies should crude prices breach US$80 per barrel. Dubai crude stood at US$75.16 as of 23 June.
Consumers are encouraged to conserve fuel through carpooling, proper vehicle maintenance, and mindful driving habits.
