A Department of Energy (DOE) official said it’s possible that diesel prices could go up to P200/ liter as the US-Israel war against Iran continue.

Energy Secretary Sharon Garin Garin said fuel prices remain largely beyond the Philippines’ control, as they are driven by developments in the Middle East.

“If you ask me, is it going to reach P200? I really hope it won’t… but it’s a possibility,” Garin said.

“Whenever there’s a peaceful day then price stabilizes. When there’s a bombing that happens or a building gets hit or even an oil company gets hit in any country in the Middle East gets hit, prices go up… It’s not within the control of our President or the DOE or our oil companies,” she added.

She, however, assured Filipinos that the government is taking steps to ensure adequate fuel supply nationwide.

Some gasoline stations are already selling diesel at more than P170 per liter following the latest round of oil price hikes implemented on Tuesday.

Latest DOE report said the Philippines currently has enough oil supply to last an average of 50 days, or until the latter half of May.

Garin said, for now, there’s no need to implement fuel rationing.

“50 days is more than enough for us to find replenishment… The normal lead time for us to order oil is normally 7 to 10 days. Pag umorder ka, delivery can normally take about a week to get here because most come from Southeast Asian countries including Japan and China,” she explained.

Garin also addressed the idea floated by Petron Corporation CEO Ramon Ang himself that the government could take over the oil giant if it sees that as the best way to manage the crisis.

She said there have not been any formal talks about the government buying back Petron.

“So far naman it has been functioning as our only refinery and it has been serving well naman. Makikita niyo rin sa pump prices nila, it’s very competitive. They’re one of the cheapest probably,” she said.