DOE: Hormuz pass won’t quickly cut fuel pricesA vessel containing 142,000 barrels or 22.57 liters of diesel procured by the government as seen in a Deparmtent of Energy-released image on March 26, 2026. “This development will not immediately bring down fuel prices, nor does it resolve our long-term structural challenges in energy,” Garin clarified in a statement late Saturday. More than a month after the United States and Israel launched a military campaign against Iran, domestic fuel prices have more than doubled. Notably, diesel prices are expected to see another double-digit increase this week, pushing regular diesel above P160 per liter and premium diesel past P170 per liter. Lowering fuel prices remains a top government priority amid the ongoing energy emergency, Garin said.

Source: Philippine Star April 05, 2026 17:30 UTC