The Philippine Department of Energy (DOE) has warned that the domestic oil crisis, triggered by escalating conflicts in the Middle East, could persist until the end of 2026. According to DOE Director Rino Abad, the volatility is largely driven by a maritime blockade in the Strait of Hormuz, a vital path for global petroleum trade.&nbsp;
While an indefinite ceasefire between U.S.-Israeli forces and Iran has offered some stability, the DOE noted that the continued blockade prevents oil tankers from passing through the strait. This bottleneck has kept global petroleum prices high, with domestic fuel prices in the Philippines recently breaching the P100 per liter mark.
To mitigate the impact on consumers and the transport sector, the government has implemented several interventions:
Strategic Reserves - The Philippine National Oil Company (PNOC) is actively purchasing reserve stocks of diesel and liquefied petroleum gas (LPG).
Targeted Subsidies -&nbsp;A P10 per liter discount program for public utility vehicles (PUVs) is being expanded nationwide.
Price Monitoring - The DOE is enforcing stricter fuel price adjustment limits to prevent overcharging by retailers.
Officials emphasized that while these measures provide temporary relief, a return to pre-crisis price levels depends on a long-term peace agreement and the full reopening of international trade routes.