The Department of Energy (DOE) confirmed on March 16, 2026, that despite record-high fuel prices, the Philippines is not facing a supply crisis, stressing that petroleum products remain available but expensive due to global market volatility.

Manila, Philippines — DOE officials explained that the surge in local pump prices is driven by international factors, particularly the ongoing Middle East conflict, which has disrupted oil supply chains and pushed global prices upward. Energy Secretary Sharon Garin emphasized that while costs are soaring, the country’s fuel reserves and import supply lines remain stable.

“The situation is not a supply crisis. We have enough fuel, but the prices are high due to international market conditions,” Garin said during a briefing, noting that the government is working with oil retailers to stagger price increases to cushion the impact on consumers.

Industry forecasts show diesel prices could reach as high as ₱114.90 per liter, while gasoline may climb to ₱91.60 per liter this week. The DOE earlier announced price adjustments of up to ₱23.90 per liter for diesel and ₱16.60 per liter for gasoline, effective March 17.

Officials reiterated that the government is prepared to act should supply disruptions occur, but at present, the challenge lies in affordability rather than availability. Programs such as fuel subsidies for transport operators and targeted assistance for vulnerable sectors are being expanded to help ease the burden.

The DOE also urged consumers to adopt energy conservation practices and efficiency measures to mitigate the impact of rising costs. Local transport groups have already responded to the price surge with fare hike petitions, while businesses are reassessing operating expenses amid the volatile market.

This clarification from the DOE underscores the distinction between a supply shortage and a price crisis. While fuel remains accessible nationwide, the economic strain of escalating costs continues to ripple across households, transport operators, and industries, making affordability the central issue in the current energy landscape.