DOE on the rise in fuel costs
The Department of Energy (DOE) and your entire energy family are united in taking steps to ease the effects of rising prices, particularly of oil and other petroleum products.
The rise in petroleum prices is due to the current global situation where international political and economic factors are at play:
• US exit from the Iran nuclear deal was accompanied by its re-imposition of economic sanctions on Iran, including those related to oil;
• Political and economic instability in Venezuela, which has the world’s largest proven oil reserves and is considered one of the largest oil exporters in the West; and
• A lack of clear commitment from oil producing countries for an actual production increase to replace expected supply constraints.
Global oil prices also tend to go up in the winter months (October-March), as demand for heating is at its highest.
Even before the onset of the spike in world petroleum prices, the energy family has been relentless in working out ways to help our most vulnerable sectors such as transport groups. Public utility vehicles are able to avail of fuel discounts through the continued expanding partnership of the DOE with various oil companies.
Likewise, we have asked the Philippine National Oil Company – Exploration Corporation, one of our attached agencies, to look into importing low-cost diesel to augment supply and offer a more affordable fuel option to our public transportation sector.
We are also part of the inter-agency Pantawid Pasada program being led by the Department of Transportation, where fuel subsidy cards are being distributed to qualified franchise holders of public utility jeepneys.
Your full cooperation is needed in facing the challenges ahead. Now more than ever, we are appealing for each and every one of us to adopt simple yet far-reaching changes in the energy choices we make, with efficiency at its core.
Using fuel wisely is one easy way for us to immediately cope with current fuel costs. We have launched a strengthened information campaign on fuel saving tips. These helpful suggestions and strategies on maximizing fuel efficiency would save us time, money and help our environment. For example, planning one errand day for the entire family is a creative way, which allows us to spend more time with our loved ones, while decreasing the number of trips we need to make.
A mindset on energy efficiency is key to living an energy efficient lifestyle. Helping bring down the overall energy demand of our country is hinged upon our energy habits. We already have the energy ability. Let us hone it by being smart about our energy choices may it be on fuel or power. Simple tasks such as turning off appliances that are not in use become second nature when done repeatedly. In addition, switching to LED lighting and inverter technology significantly reduces our power consumption, which means lower electricity bills.
Together with our country’s economic management team, the DOE and your entire energy family remain unyielding in finding ways to manage the situation at hand. We will not rest from pushing vital industry reforms, including the crafting of policies that promote the exploration and development of our indigenous energy resources, the expansion of our renewable energy capabilities, uphold the integrity of safety and resiliency standards, and bring power to unserved and underserved areas in the Philippines.
-Department of Energy.