Petroleum companies will implement another round of steep fuel price increases starting Tuesday, 17 March, to continue in a staggered manner until Monday, 23 March, the Department of Energy (DoE) announced on Monday.

Energy Secretary Sharon Garin said the adjustments will raise gasoline prices by P12.90 to P16.60 per liter, diesel by P20.40 to P23.90, and kerosene by P6.90 to P8.90 per liter.

Energy Secretary Sharon Garin said the adjustments will raise gasoline prices by P12.90 to P16.60 per liter, diesel by P20.40 to P23.90, and kerosene by P6.90 to P8.90 per liter.

“For the supply, we’ve tasked all oil companies to ensure that their contracts with suppliers are followed. The Philippine National Oil Company is exploring alternative suppliers that our companies don’t usually work with. We have control over supply and power, but prices are largely driven by imports, which the government cannot fully control,” Garin explained.

Global crude oil prices remain high, with Brent crude at $104–$105 per barrel and WTI (West Texas Intermediate) trading above $97–$100 per barrel, fueled by heightened Middle East supply risks and war-related disruptions.

Asked if crude could reach $200 per barrel, Garin said, “Only God knows.”

The DoE is also exploring credit facilities to help oil companies secure additional orders and supplies during this period, including possible support from the PNOC.

“Oil companies can secure their own supply or work with the PNOC. We’re designing feasible arrangements to help them lock in orders and address financing or supply constraints,” Garin said.

Export restrictions

Garin acknowledged that the Philippines, like other oil-importing countries, is affected by the export restrictions of countries like China and Thailand, implemented to secure their domestic supply amid the closure of the Strait of Hormuz.

“Some of our supplier countries stopped exporting, like Thailand. We’re now taking a government-to-government approach with these countries through the PNOC and the Department of Foreign Affairs to secure supply. China and Thailand are our traditional suppliers, but the effects are being felt by them,” she said.

The Philippines relies on fuel imports from China, Thailand, South Korea, Singapore and Japan. The DoE is exploring new sources, including Russia, which could supply crude to Petron’s operating refinery.

Although President Ferdinand Marcos Jr. recently reported 50 to 60 days of local fuel stock, Garin said about two weeks of supply have already been used.

“Most gas stations and diesel power plants are stocked, but the transportation sector is where the main concern lies,” she said.

Gas station monitoring

The Philippine National Police (PNP) has stepped up the monitoring of gas stations that have temporarily closed amid the price hikes.

“We understand the challenges gas station owners face, but any illegal schemes will be dealt with,” PNP chief Gen. Jose Melencio Nartatez Jr. said.

The DoE sought police assistance to investigate stations taking advantage of the crisis.

Transport strike planned

Transport group Piston announced a nationwide strike on Thursday to protest the rising fuel prices.

“On 19 March, we will stage a protest and strike nationwide, not just in Metro Manila, to oppose government inaction on fuel prices,” said Piston national president Mody Floranda.

The group is demanding an immediate rollback of oil prices to P55 per liter, the level before the recent hikes, the removal of petroleum taxes, and the repeal of the 1998 Oil Deregulation Law, which allows oil companies to set prices with minimal government intervention.

“Fuel prices fluctuate almost daily. You wake up and the price is already different,” Floranda said.

Drivers warn of crisis

Floranda warned that continuous fuel price increases are threatening the drivers’ livelihoods, with expenses rising with their income remaining largely unchanged. He is pushing for a P5 fare increase to help offset fuel costs.

“Drivers and operators lose a large portion of their daily earnings to fuel costs. That’s why fuel prices must be reduced,” Floranda said.

Fuel costs make up a significant part of a public utility vehicle’s operating expenses, and sudden price hikes hit drivers — especially jeepney operators — hard, as they often rely on daily income targets.

Aid for trike drivers

Meanwhile, the Department of Social Welfare and Development announced that the P5,000 fuel subsidy for tricycle drivers will be distributed starting 17 March at 30 payout sites across Metro Manila.

Secretary Rex Gatchalian said the cash aid, under the Assistance for Individuals in Crisis Situation program, will benefit 139,000 drivers and operators in the National Capital Region.

“Tomorrow, drivers will receive the payout — come in, get the P5,000, and return to the line. This is to avoid interrupting daily commutes,” Gatchalian said.

Payouts will follow scheduled morning and afternoon batches set by local government units. Drivers must bring their driver’s license and a photocopy of it.

The distribution is expected to run from 17 to 19 March, with jeepney drivers to receive assistance starting 23 March.

Gatchalian said that if fuel problem persists, the government is prepared to conduct additional rounds of cash assistance, noting that the AICS program has a P60-billion budget, with P30 billion allocated for this project.