Energy officer-in-charge Sharon Garin on Tuesday detailed a series of contingency measures led by the Department of Energy (DOE) in response to potential worst-case scenarios linked to global fuel price volatility.
In a press briefing, Garin emphasized directives from President Ferdinand “Bongbong” Marcos Jr. to cushion the economic blow on Filipino commuters and transport workers of the uncertain petroleum prices.
Garin said the government has mobilized a P2.5 billion fuel subsidy program, primarily targeted at public utility vehicle (PUV) drivers to offset the impact of fuel price hikes without forcing fare increases.
“The importance of the ayuda for the drivers is so they won’t increase their fares,” she explained during a briefing.
“If we don’t allow a fare hike, we have to give them something. Otherwise, they’ll have to shoulder the burden, and that’s what the President doesn’t want,” she added.
In a proactive move to moderate the inflationary impact, President Marcos convened oil companies last week and secured their agreement to stagger a planned fuel price increase. The scheduled hike — originally over P5 per liter — was broken into two P2.60 per liter adjustments on June 24 and June 26.
Garin called the President’s intervention “a good call,” saying the staggered increase allows Filipino households to plan fuel purchases more effectively.
“If it’s done in one go, you only have one chance to plan. But with a staggered increase, you have the whole week to manage your expenses,” she said.
Beyond subsidies, Garin confirmed the DOE has begun discussions with oil firms to widen their support for PUVs through discount schemes.
Clean Fuel, the first company to respond, has committed to offering a P1 per liter discount for PUV drivers, an initiative that Garin said could result in annual savings of up to P18,000 per driver.
“That’s a big help, and it’s not government-funded, it’s the willingness of the oil company to help. It’s a bayanihan spirit since the President made that call,” Garin noted.
She added that while international oil prices have shown signs of decline, with global benchmarks dipping back to the $69 per barrel range, the government remains vigilant and fully prepared.
The DOE is coordinating with the Department of Transportation (DOTr) and other agencies to ensure quick response capabilities if the situation escalates.
“All agencies are bracing for impact, even if there might be none, but we’re preparing just the same,” Garin said.
Meetings with other fuel providers are scheduled throughout the week to further explore options for assisting transport operators and managing supply levels nationwide.