The Department of Energy (DOE) said on Tuesday that oil firms agreed to implement the fuel price hikes on a staggered basis.
Officials of the agency and fuel companies met on Monday, June 23 and discussed the fuel price hike -- gasoline at P3.50 per liter; diesel at P5.20 per liter; and kerosene at P4.80 per liter.
Seaoil, Shell, Caltex, CleanFuel said they will implement the first round of price increase on June 24 while the second round will take effect on June 26.
The fuel firms added that they will increase gasoline prices by P1.75 per liter, diesel by P2.60 per liter, and kerosene by P2.40 per liter for both June 24 and June 26.
DOE Officer-in-Charge Sharon S. Garin said the staggered fuel price adjustments will ease the burden of the transport and agriculture sectors.
The scheme is also expected to cushion the impact on Filipino consumers by distributing price movements over a more manageable period, Garin added.
“Our dialogue with industry players reflects our shared commitment to balance economic realities with the need to shield our people from sudden price shocks, and we are pleased to report that they have responded positively to our request,” she said.
“We have also urged oil companies to increase the number of their retail stations offering fuel discounts to the transport sector, This forms part of our broader efforts to alleviate the burden on vulnerable groups. We will address this in detail during our individual meetings with the oil companies on Wednesday, 25 June 2025,” Garin added.
As of Monday, the average price of Dubai crude oil stands at USD 75.16 per barrel.
The average domestic price of gasoline stands at P55.90 per liter. Diesel price is P53.40 per liter while kerosene is P70.22 per liter.
The DOE urged the public to practice fuel conservation, carpooling, regular vehicle maintenance and other measures.
Meanwhile, the Department of Transportation (DOTr) disclosed that operators and drivers of public utility vehicles (PUVs) will be given fuel subsidies and discounts amid the fuel price hike.
This, after President Ferdinand Marcos, Jr. has ordered the distribution of fuel subsidies to provide relief for operators and of PUVs, and cushion the impact of future fare increases as a result of the Iran-Israel-US conflict.
The DOTr said that some P2.5 billion has been allocated for the fuel subsidy program which would take effect after the implementation of the staggered price increases.
The Land Transportation Franchising and Regulatory Board is finalizing the guidelines.