DOE rules out major fuel spike, but price relief unlikely this year

MANILA — The Department of Energy said Monday it does not anticipate fuel price movements comparable to the sharp increases that occurred in March when geopolitical tensions between the United States and Iran intensified, but cautioned that consumers should not expect prices to fall back to pre-conflict levels anytime soon.

DOE officials indicated that while domestic fuel prices may remain relatively stable over the coming months, the structural shifts in global energy markets triggered by regional instability will likely keep prices elevated through the remainder of the year.

The remarks reflect the government's effort to balance public concerns about energy costs against broader uncertainties in international crude oil markets. The March spike had sent domestic fuel prices climbing significantly, prompting widespread concern among businesses and consumers already contending with inflation pressures.

Energy analysts said that even without another major geopolitical shock, global supply constraints and production disruptions will likely maintain upward pressure on prices. The DOE's assessment suggests policymakers are preparing Filipinos for a prolonged period of elevated energy costs as the country navigates the ongoing international situation.