MANILA — Domestic fuel prices may no longer drop back to the P60-per-liter level as damage to oil infrastructure caused by the ongoing conflict in the Middle East could have long-term effects, Energy Secretary Sharon Garin said.

In an interview with dzBB on Sunday, April 12, Garin explained that facilities hit during the conflict may take time to restore, affecting global supply and prices.

“Kung two weeks lang ‘yung giyera, bababa. But the structural damage has already been done. It will take a long time to fix the facilities,” Garin said.

(If the war only lasts for two weeks, prices will go down. But the structural damage has already been done. It will take a long time to fix the facilities.)

She added: “Hindi ko ma-predict kung ano ‘yung pinaka-lowest na aabutan natin. Baka hindi na tayo aabot tulad ng dati na P60 per liter yung diesel dito.”

(I can’t predict what the lowest price we will reach will be. We might not reach the previous price of P60 per liter for diesel anymore.)

Garin said that even if oil prices begin to ease, any reductions would likely happen gradually rather than rapidly. She noted that consumers should expect a slower rollback in fuel prices over the next six months instead of an immediate drop.

Fuel price increases have been implemented since the escalation of tensions between the United States and Iran on February 28, which has affected global oil supply.

Supply concerns have also intensified following the closure of the Strait of Hormuz by the Iran Navy, a key route through which about 20 percent of the world’s oil supply passes.

At present, some fuel retailers in the country are selling petroleum products at around P130 per liter.

Despite the upward trend, the Department of Energy said price rollbacks are expected in the coming week.

Garin said diesel prices may decrease by P20.89 per liter, gasoline by P4.43 per liter, and kerosene by P8.50 per liter.

The projected adjustments will apply from April 14 to April 20, based on the average international oil prices over the past five days compared with the previous week, she said.

“It’s based on the average of the last 5 days international prices and comparing that to the average of the previous week,” she said.

Garin noted that actual pump prices may vary across gas stations, but the estimates represent the minimum expected rollback.