Higher diesel and kerosene prices could revive inflation pressure and weaken rate-sensitive sectors.

Amid renewed escalation in the Middle East conflict, the Department of Energy  plans to once again cap fuel price hikes and mandate minimum rollbacks to prevent “abusive” pricing by oil firms.

US-based Koloma Inc. has kicked off native hydrogen exploration activities in Pangasinan, with the Department of Energy  expecting drilling to commence later this year.

Fuel price swings continue as DOE said it will soon return to exact adjustments.

MANILA, Philippines — Just as the country’s offshore wind industry seemed poised for takeoff, its inaugural auction has been suspended indefinitely amid current market challenges, including disruptions caused by the Middle East war. Energy Undersecretary Felix William Fuentebella said the fifth green energy auction (GEA-5) round was placed “on hold until further notice” to give the government time to recalibrate the bidding process. The recalibration will cover key issues such as port readiness, permitting requirements and the environmental and cost implications of port development. The Department of Energy (DOE) is also assessing the potential impact of ongoing geopolitical tensions in the Middle East on global supply chains. “This measure is intended to ensure a more transparent, orderly and implementation-ready auction process,” Fuentebella said in an advisory to all concerned renewable energy stakeholders. He noted that the suspension would also allow the DOE to further align GEA-5 requirements, timelines and implementation parameters with actual infrastructure readiness, regulations and project development conditions. “The DOE shall issue the necessary guidelines, supplemental issuances and revised timelines in due course,” added Fuentebella, who chairs the agency’s GEA-Bids Evaluation and Awards Committee. The indefinite suspension came just weeks after a senior energy official confirmed that nine companies had advanced to the next stage of the evaluation process for the offshore wind auction. Under the original timetable, the GEA-5 auction proper was supposed to take place on Aug. 27, with notices of award to winning bidders scheduled for Sept. 23. This landmark auction exclusively covers fixed-bottom offshore wind projects, with original delivery timelines spanning 2028 to 2030. GEA-5 supports the government’s target of generating the first kilowatt-hours of offshore wind power before the end of President Marcos’ term in 2028. It is also expected to provide a significant boost to the country’s broader goal of increasing the share of renewables in the energy mix to 35 percent by 2030 and 50 percent by 2040.