Philippine News Agency
DOE: Oil firms agree to implement fuel price hike on staggered basis
Oil companies in the Philippines have agreed to implement pump price increases on a staggered basis this week to lessen the impact of significant price adjustments on consumers.
The agreement was reached during a meeting between the Department of Energy (DOE) and representatives of the downstream oil industry.
DOE officer-in-charge Sharon Garin stated that the industry players responded positively to the request to balance economic realities with the need to prevent sudden price shocks.
Oil companies are required to submit their proposed implementation schemes and breakdown of staggered adjustments by 6 p.m. on Monday, June 23, 2025.
Additionally, the DOE has encouraged oil companies to expand their fuel discount programs for the transport sector as part of efforts to support vulnerable groups.
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