00:00In the meantime, the Department of Energy, or DOE, is taking proactive steps to mitigate the impact of rising fuel
00:05prices.
00:06This amidst the rising geopolitical tensions in the Mideast,
00:10which have affected primary oil-producing regions like Iraq, Kuwait, Bahrain, and the UAE,
00:15the DOE has reportedly rallied oil companies to discuss strategies to lessen the burden on Filipino motorists.
00:22As the country faces its anticipated 10th consecutive week of fuel price increases,
00:27DOE Oil Industry Management Bureau Director Reno Abad confirmed in an interview on Monday, March 2,
00:34that the agency is looking to negotiate with fuel companies to implement next week's expected big-time price adjustments in
00:41staggered tranches.
00:42This measure aims to ease mounting pressure from fuel price hikes.
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