MANILA – The Department of Energy (DOE) announced that domestic fuel prices may increase starting Tuesday, September 9, citing developments in the international oil market that have pushed up benchmark prices Dubai and Mean of Platts Singapore (MOPS).

The DOE said global market conditions remain tight after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed on September 7 to raise production by only 137,000 barrels per day beginning October, well below the previous monthly increases of more than 400,000 bpd.

Supply concerns have also been aggravated by the renewed escalation of the Russia–Ukraine conflict, which disrupted about 17 percent of Russia’s refining capacity and damaged the Druzhba pipeline, a key artery for European energy flows.

In addition, the United States recently reinstated sanctions on 13 entities and 8 vessels linked to illegal Iranian oil shipments, targeting an estimated 1 million barrels per day of exports.

The DOE assured consumers that it is closely monitoring global price movements and coordinating with industry stakeholders to mitigate the impact of the adjustments.

The agency also renewed its call for motorists to adopt fuel-saving measures, including proper vehicle maintenance, avoiding unnecessary idling, and planning trips efficiently to help reduce fuel costs.