Gate News message, April 20 — The Philippines’ Department of Energy (DOE) now regulates uniform adjustments to pump prices as consumers face elevated fuel costs due to the Middle East conflict. Energy Secretary Sharon Garin announced on Monday that this policy is part of the declaration of a state of national energy emergency, which grants the government authority to prescribe fuel prices.
Under the new mandate, oil companies must follow prescribed minimum and maximum price adjustments. For example, if a rollback is set at P24.95 per liter, it cannot drop to P20 per liter; it must remain at or above the set threshold, such as P25 or P26 per liter. Garin explained that uniform adjustments make it easier for law enforcers to monitor compliance and detect possible profiteering by gas stations, which had previously implemented price changes inconsistently.
President Ferdinand Marcos Jr. announced on April 18 a significant fuel price rollback effective April 21: diesel prices will fall P24.94 per liter, gasoline by P3.41 per liter, and kerosene by P2 per liter. Garin previously told senators that while deregulation works during stable times, the Philippines’ heavy reliance on imported fuel necessitates government intervention during crises.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Crude Oil Prices Surge on U.S. Seizure of Iranian Vessel: Brent Up 5%, WTI Up 6%
Crude oil prices surged on April 19 after U.S. forces seized an Iranian-flagged vessel in the Gulf of Oman, raising supply disruption fears. Iran threatened to restrict access through the Strait of Hormuz, amid escalating tensions and potential impacts on global inflation and markets.
GateNews1h ago
Major SOL Short Seller Opens $18M Leveraged Long Position in Brent Oil on Hyperliquid
Gate News message, the largest on-chain SOL short position holder has opened a long position in oil. Over the past 10 hours, the trader deposited 9 million USDC into Hyperliquid and opened a 3x leveraged long position on 200,687 BRENTOIL, valued at $18.08 million. The trader continues to maintain a
GateNews2h ago
Tensions around the Strait of Hormuz have been fluctuating, and Bitcoin falls below $74,000
The Strait of Hormuz blockade triggers a major shock in the crypto market: after Bitcoin first breaks above $78,000, it then falls back to $74,000, and the market remains in panic. This article provides an in-depth analysis of the transmission mechanism between geopolitical shocks and crypto market price action.
GateInstantTrends2h ago
Chinese Lithium Enterprises in Zimbabwe Obtain Export Permits for Lithium Concentrate
Multiple Chinese lithium companies in Zimbabwe have secured export permits for lithium concentrate. Huayou Cobalt's president announced that export procedures are underway, with shipments to China expected to take three months. Potential shortages in Guangxi lithium supply may arise but are not anticipated to significantly impact operations.
GateNews2h ago
Singapore Increases LNG Purchases as Middle East Conflict Disrupts Supplies
Singapore is increasing liquefied natural gas purchases from alternative sources due to Middle East conflict disrupting shipments. The Energy Market Authority is ensuring sufficient fuel supply as electricity tariffs rise, while pursuing diverse energy alternatives.
GateNews4h ago
Iran War Drives China to Record US Ethane Imports, Deepening Energy Dependence
China is poised to import a record 800,000 tons of US ethane in April due to supply disruptions from the Middle East. The shift to ethane stems from the closure of the Strait of Hormuz, affecting naphtha and LPG imports. This surge aligns with new production capacities and upcoming US-China talks.
GateNews5h ago
