The Department of Energy has formally certified that the one-month average price of Dubai crude oil has surpassed the $80-per-barrel threshold set by Republic Act 12316, triggering the process to consider suspending or reducing fuel excise taxes. From August 13 to September 11, 2026, the benchmark averaged $99.41 per barrel. This certification follows two straight weeks of steep pump price increases, with total hikes reaching P10.37 per liter for gasoline, P9.49 for diesel, and P10.20 for kerosene. For this week alone, gasoline may rise by up to P5.68 per liter, diesel by P4.31, and kerosene by P4.62. Energy Secretary Sharon Garin noted these increases affect household budgets, driver incomes, and business operating costs, adding that the certification has been sent to the Development Budget Coordination Committee for review. Under the law, the President may suspend or cut excise taxes for up to three months, covering specific products, based on the committee’s recommendation. Garin warned of possible further increases due to escalating tensions in the Middle East, though she ruled out hikes as severe as P20 to P30 per liter. She also urged private companies to offer fuel discounts to ease the burden. As of early September, average prices in Metro Manila stood at P80.10 per liter for regular gasoline, P90.10 for diesel, and P119.90 for kerosene. The department confirmed adequate national fuel supply as of September 11, with total inventory lasting 56.18 days, an improvement from earlier in the month. Gasoline and diesel stocks rose, while kerosene and jet fuel inventories declined but remain sufficient. LPG supply also recovered to 39.27 days. Government fuel subsidy efforts continue, with over P718 million disbursed to more than 102,000 public transport beneficiaries through thousands of partner stations nationwide. The DOE will keep monitoring prices and supplies while coordinating with other agencies to deliver timely consumer relief.
DOE clears way for fuel tax suspension amid sharp price spikes, assures supply sufficiency
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