Leyte Governor Carlos Jericho Petilla issued a blunt warning to the public that fuel prices may no longer return to the lower levels consumers once considered normal, as global supply constraints and geopolitical tensions continue to reshape the energy landscape.
Petilla, who previously led the Department of Energy, said expectations that gasoline prices could fall back to around ₱61 per liter are unrealistic under current conditions.
“Huwag na kayong umasang babalik pa ng ₱61 ‘yan,” Petilla said, stressing that even a stabilization of global markets would not bring back past price levels.
Instead, he projected that fuel prices could settle at significantly higher ranges even if international conditions improve.
“Diesel will be around ₱100 or a little over ₱100, and gasoline just slightly below ₱100 kapag nag-normalize na lahat,” he explained.
The warning comes as the Philippines remains heavily dependent on imported fuel, sourcing roughly 98 percent of its oil requirements from abroad.
This leaves the country particularly exposed to global disruptions, including ongoing conflicts in key oil-producing regions that have strained supply chains and pushed prices upward.
Petilla noted that the current situation is not a temporary spike but a structural shift driven by reduced production capacity, damaged infrastructure, and persistent uncertainty in the global oil market.
“There is no clear end in sight,” he said.
He emphasized that the Philippines, as a “price taker,” has little control over pump prices, which are dictated largely by international benchmarks.
As a result, local consumers immediately feel the impact of global price swings.
Despite public clamor for government intervention, Petilla cautioned that efforts to artificially lower prices through subsidies or tax reductions would place an enormous burden on state finances.
“Hindi kayang saluhin ng gobyerno at ibalik sa ₱61,” he said, adding that such measures could cost the government trillions of pesos annually—an unsustainable approach.
Instead, Petilla urged policymakers and the public to focus on managing demand rather than expecting significant price rollbacks.
“What we can do is curtail demand. Demand management tayo ngayon,” he said.
The former energy chief also framed the issue as part of a broader global crisis, calling on Filipinos to adjust their expectations and consumption habits accordingly.
“It’s a world crisis… the most important thing is to survive,” he said.
Energy analysts echo Petilla’s assessment, pointing out that even if geopolitical tensions ease, long-term factors such as limited refinery capacity, underinvestment in oil production, and shifting energy policies worldwide will likely keep prices elevated.
For ordinary consumers, this means preparing for sustained high transportation and energy costs, which could ripple across the prices of basic goods and services.
To put it simply, it would appear that the era of cheap fuel may be over, and the country must adapt to a new economic reality where high energy costs are no longer the exception, but the rule.
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