Benise Balaoing

Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. Oil companies raised gasoline prices by as much as P5.90 per liter and diesel by up to P19.80 per liter, marking one of the largest increases in recent weeks. Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE

Jekki Pascual

ABS-CBN News

MANILA -- The Department of Energy (DOE) remains vigilant and prudent amid the still unstable situation in the Middle East.Speaking at the PhilEnergy expo, Energy Secretary Sharon Garin said there have been various reports of a potential <a href="https://www.abs-cbn.com/news/world/2026/6/18/read-text-of-us-iran-memorandum-of-understanding-released-by-us-0908" rel="noopener noreferrer" target="_blank">peace deal</a>, the reopening of the Strait of Hormuz, and then <a href="https://www.abs-cbn.com/news/world/2026/6/20/iran-says-hormuz-closed-again-after-israel-strikes-lebanon-2226" rel="noopener noreferrer" target="_blank">again</a> closing the strait.She said developments in the region change quickly and the agency cannot be complacent, even if the situation appears calmer now compared to three months ago.&quot;Ang approach ng DOE is until we are clear, for sure, hindi yung Twitter lang, hindi lang Facebook post, sure tayo nagpirmahan na sila at tapos na at free flow na ang trade sa Hormuz or anywhere in the Philippines, I think DOE should not rest,&quot; Garin said.She said she continues to meet with foreign officials, local oil players, and other stakeholders to ensure the country has enough fuel supply and a more affordable supply as well.&quot;I’ve been meeting with several embassies, still asking them just in case we need more supply, open a window for us. I’ve been meeting with our oil companies and then pushing renewable energy,&quot; Garin added.She said the government continues to push for alternative or renewable energy sources (RE), and she is confident of hitting the target of 35 percent RE share in the energy mix by 2030. Garin added that the current RE share is at 25 percent.<div><a href="https://www.abs-cbn.com/news/business/2026/6/11/lower-taxes-on-home-solar-rooftop-systems-pushed-to-bring-down-power-costs-1233" rel="noopener noreferrer" target="_blank">Lower taxes on home solar rooftop systems pushed to bring down power costs</a></div>&quot;A few thousand megawatts are coming in. Just talking alone about <a href="https://www.abs-cbn.com/news/business/2026/1/23/meralco-solar-unit-announces-leviste-replacement-in-board-1642" rel="noopener noreferrer" target="_blank">Terra Solar</a>, they’re trying to finish 3,500 megawatts. Marami pa yan. Maraming wind na papasok. The auctions are coming in,&quot; she said.Other government agencies at the expo also highlighted the push for RE.&quot;PEZA has approved 21 solar manufacturing and renewable energy enterprises generating over P97 billion in investments and creating more than 1,300 jobs,&quot; said Philippine Economic Zone Authority Director General Tereso Panga.Public-Private Partnership Center Deputy Executive Director Jeffrey Manalo added, &quot;The PPP Center is focusing, among other projects in the portfolio, offshore wind enabling infrastructure such as development of specialized ports, staging areas, and connection assets.&quot;The PhilEnergy Expo gathered dozens of suppliers and companies in the global energy sector. Garin toured the expo and talked to some of the firms, including those from China and other countries.

The Philippine Department of Energy remains vigilant and prudent amid the still unstable situation in the Middle East.

The Philippine Department of Energy remains vigilant and prudent amid the still unstable situation in the Middle East.

DOE says remains vigilant amid shaky Mideast peace

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DOE says remains vigilant amid shaky Mideast peace

Jekki Pascual,

ABS-CBN News

Published June 24, 2026 05:46 PM PHT

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Energy

Department of Energy

Hormuz

Middle East

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