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Oil Firms to Implement Staggered Price Hikes
- On June 23, 2025, the Department of Transportation and LTFRB activated a fuel subsidy program in Manila to aid public utility vehicle operators amid rising fuel costs.
- The subsidy program responds to petroleum price hikes nearing P5 per liter caused by escalating geopolitical tensions in the Middle East involving Israel and Iran.
- Local oil firms agreed on Monday to stagger the fuel price increases, submitting their implementation schemes to the Department of Energy by 6 p.m. that day.
- The government allotted P2.5 billion for subsidies, which beneficiaries can claim through fuel cards, cash transfers, or LandBank branches, and guidelines are being drafted to ensure rightful distribution.
- Officials will meet on June 25 to discuss subsidy rollout, while monitoring continues on oil prices and efforts focus on cushioning vulnerable sectors from fuel cost surges.
12 Articles
12 Articles
There will be two price increases on petroleum products this week to prevent a sudden, large-scale fuel price hike. The price of diesel will increase by up to P5 per liter.
Oil firms to implement staggered price hikes
MANILA, Philippines — Local oil firms have agreed to a staggered implementation of price increases at the pump. This, as petroleum prices continue to rise amid the escalating conflict in the Middle East, according to the Department of Energy (DOE). The DOE said it met with oil firms on Monday to soften the impact of
Govt readies fuel subsidy program
(UPDATE) THE Department of Transportation (DOTr) has activated its fuel subsidy program to help ease the impact of a nearly P5 per liter increase in petroleum prices as the conflict between Israel and Iran escalates. DOTr spokesman Assistant Secretary Mon Ilagan said on Sunday the department, in partnership with the Land Transportation Franchising and Regulatory Board (LTFRB), will distribute fuel subsidies to public utility vehicle (PUV) operat…
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