Gasoline prices in the Philippines could rise to more than ₱80 per liter if the conflict in the Middle East continues to escalate, according to the Department of Energy (DOE).

During a hearing of the Senate Committee on Foreign Relations chaired by Erwin Tulfo, DOE Oil Industry Management Bureau Director Rino Abad said global oil price movements linked to the regional conflict could significantly affect local pump prices.

Abad cited historical data from June 2022, when tensions in the region pushed Dubai crude prices to around $113 per barrel, resulting in gasoline pump prices in the Philippines reaching about ₱83 per liter, while diesel rose to around ₱84 per liter.

As of February 27, before the latest escalation, gasoline prices were around ₱54 per liter, with diesel at about ₱60 per liter. However, Abad warned that a sharp rise in global oil prices could quickly push local fuel costs higher.

“To be safe, mga above ₱80 (per liter),” Abad said, noting that the impact may be felt as early as next week, depending on how oil companies implement price adjustments.

Tulfo also raised concerns during the hearing that crude oil prices could surge further if the conflict drags on for weeks, with some projections suggesting global oil could approach $200 per barrel in a worst-case scenario.

Energy officials said the government continues to monitor developments in the Middle East, as prolonged instability in the region—one of the world’s key oil-producing areas—could trigger further increases in fuel prices and impact transportation and consumer costs in the Philippines.