Energy Secretary Sharon Garin said the ongoing conflict in the Middle East remains the key factor behind rising fuel prices in the Philippines, stressing that global uncertainty continues to push oil costs upward regardless of developments in the Strait of Hormuz.
In an interview, Garin explained that tensions linked to the war have driven up oil prices worldwide, directly impacting domestic pump prices.
“This war is not really helping us… it makes oil all over the world very expensive. Wala tayong kinalaman sa giyera ni Donald Trump and Israel but their actions are affecting us kasi ang presyo ng gasolina natin is based on international prices and whatever is causing that is making it higher… it’s the effect of the uncertainty that makes it more expensive,” she said.
“Itong giyera na ‘to is making everything expensive… kahit buksan man o sarhan [ang Strait of Hormuz], the prices are still high,” Garin added.
The energy chief assured that the government is ready to respond should another disruption occur in the vital oil passage, especially following Israel’s recent strike on Lebanon.
She noted that the Philippines has already begun diversifying its oil supply sources to lessen reliance on the Middle East. Local oil firms, along with the Philippine National Oil Company, have initiated efforts to secure alternative suppliers from other regions.
“We’re prepared for this. Our oil companies and also PNOC, our GOCC started na nu’ng start pa lang ‘to, we started looking for alternatives supplier na,” Garin said.
“We’ve learned from the first closure and now we’re talking to suppliers from other parts of the world para hindi na tayo dependent sa Middle East. Of course, it comes with a cost also because it takes longer to get here,” she added.