The Department of Energy (DOE) has called on oil companies to widen fuel discounts and promo offerings for public utility vehicle (PUV) drivers amid the upward pressure on global oil prices due to heightened tensions in the Middle East.

In a press briefing, DOE Undersecretary Sharon Garin said the agency is working closely with the Department of Transportation (DOTr), the Department of Agriculture (DA), and the Land Transportation Franchising and Regulatory Board (LTFRB) to prepare subsidy distributions for affected sectors, including PUV drivers, operators, farmers, and fisherfolk.

"The President’s directive remains the same — to ensure that we protect the Filipino people from the impact of oil price hikes, especially those who rely on public utility vehicles, as well as our farmers and fisherfolk," Garin said.

Oil prices saw a recent dip following geopolitical developments. From a high in the upper $70s per barrel, crude oil prices briefly dropped to $69, a movement speculated to be tied to former US President Donald Trump's recent statements and ongoing conflict between Iran and Israel.

Despite the volatility, Garin assured the public that the country has a sufficient fuel supply that can last nearly a month.

While a P2.5 billion budget has been earmarked for fuel subsidies, the amount each recipient will receive has not been finalized and will depend on eligibility and the number of beneficiaries, she added.

“Our oil companies are compliant even though only 15 days are required of them, " she said in Filipino.

In anticipation of a worst-case scenario, the DOE is exploring long-term strategies such as tapping alternative fuel suppliers and identifying new supply routes.