PH gov't mulls 'targeted subsidies' following price hikes

MANILA: To soften the impact of skyrocketing oil prices due to market volatility and the unrest between Iran and Israel, the Philippine government might roll out targeted subsidies soon.

In a statement, the Department of Energy (DOE) shared that officer-in-charge Sharon Garin will meet with officials from the Department of Transportation as well as the Department of Agriculture to talk about the timely rollout of targeted subsidies for public transport drivers and farmers, should the average price of crude oil breach the $80 per barrel threshold. Currently, the average price of Dubai crude oil is at $75.16 per barrel.

Aside from that, they are also encouraging companies to increase the number of their retail stations that offer fuel discounts to the transport sector as part of efforts to alleviate the burden on vulnerable groups.

This week, oil companies will implement a two-part major price hike in their retail products. Such a move was the result of discussion between local players and the DOE.

Based on advisories issued by Caltex, Cleanfuel, and Petron, they will have the following pump price hikes, twice.

Product	Price adjustment (in Peso per liter)
Diesel	P2.60
Gasoline	1.75
Kerosene	P2.40

The first adjustment will be tomorrow (June 24), and on Thursday (June 26) onwards.

Other players are expected to implement the same adjustments.

Since June 2025 came, the trend on the pricing of fuel prices has been in an upward trajectory.

Meanwhile, DOE Undersecretary Alessandro Sales said that the agency is “closely monitoring global oil price benchmarks and foreign exchange trends.”

“But we also urge them to exercise prudence in passing on cost changes to consumers,” he said. “Much of the recent price volatility is being driven not by actual supply disruptions, but by speculative trading due to geopolitical uncertainties,” he added.

Further, the DOE urges the public to conserve fuel by carpooling, avoiding unnecessary idling, observing correct tire pressure, and regular vehicle maintenance.

Also read:

Aramco to enter PH market through Unioil

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