The Department of Energy (DOE) today warned that motorists and transport operators should brace for significant fuel price hikes beginning next week, amid escalating geopolitical tensions in the Middle East.

According to DOE–Oil Industry Management Bureau (OIMB) Director Rodela Romero, diesel prices are expected to increase by P4.30 to P4.80 per liter. Gasoline is projected to rise by P2.50 to P3.00 per liter, while kerosene may climb by P4.25 to P4.50 per liter, based on four-day trading data from the Mean of Platts Singapore (MOPS) and movements in international oil markets.

Romero emphasized the underlying risk, stating: *“Major oil price shock looming as Israel‑Iran conflict threatens critical global shipping passage.” The Strait of Hormuz, controlled by Iran, serves as a vital maritime artery, handling approximately 25% of global oil traffic and a third of natural gas exports, Business Mirror reports.

This development comes on the heels of global oil price volatility, with Reuters reporting that Brent crude surged nearly 3% on June 19 after Israel bombed nuclear targets in Iran, and Iran responded with missiles and drones. Although U.S. diplomatic efforts have helped stabilize crude, the supply risk remains elevated.

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