Filipinos may face prolonged high fuel prices as global disruptions in the Middle East continue to affect oil supply, making a quick rollback unlikely. Households, transport operators, and businesses could feel the impact for months—or even years.

At a virtual briefing on Tuesday, Energy Secretary Sharon S. Garin explained that the ongoing conflict has disrupted key oil supply routes and systems.

“The war has been going on for over four weeks. Even if the Strait of Hormuz is cleared, there is no guarantee that Middle East supply will return to pre-war levels. Reconstruction may take months, even years,” she said.

Garin noted that fuel prices surged more than 100 percent in just a month due to the conflict, but any decrease will be far slower.

“The speed of the price increase will not be mirrored when prices fall. Rollbacks, if they happen, will take much longer,” she added, highlighting the long-term impact on consumers.

Government data shows that in early March, when the war broke out, gasoline prices ranged from P68 to P83 per liter, diesel from P67 to P108, and kerosene from P61 to P112. By mid-April, prices had climbed sharply: gasoline reached P86 to P119 per liter, diesel P127 to P172, and kerosene P149 to P177.

Despite rising prices, the DOE said the country’s fuel supply remains steady, with sufficient stocks to meet demand for more than 50 days. Total fuel inventory stands at 75.05 million liters. 

Gasoline stocks are at 23.33 million liters, enough for nearly 58 days, while diesel totals 32.52 million liters, covering around 47 days. Kerosene supply, at 142,140 liters, tops the list with 106 days of coverage.

Other fuels are holding steady as well. Jet fuel and fuel oil inventories stand at 6.32 million liters and 2.47 million liters, enough for 66 and 52 days, respectively, while liquefied petroleum gas sits at 10.27 million liters, sufficient for 33 days.

Garin described the country’s fuel stocks as “stable” and assured the public that the DOE continues to monitor fuel demand nationwide, particularly amid ongoing global disruptions. She urged the public and businesses to prepare for sustained high prices while supply gradually recovers.