Press Secretary Ignacio Bunye, also presidential spokesman, said the President has ordered Energy Secretary Rafael Lotilla to direct oil companies to submit immediately a written explanation justifying the new round of price increases.

"We must ensure that there is a clear justification for such increases in accord with the situation in the world market," he said in his weekend column "View from the Palace" he issued in lieu of an official press statement.

Oil firms have raised by 50 cents the prices of their products following the increase in the world’s oil prices triggered by lingering fears that Iran, the world’s No. 2 oil exporter, may face sanctions by the United Nations (UN).

The United States has threatened to demand before the UN Security Council a possible sanction against Iran for refusing to give up its alleged nuclear weapons program, breaking international seals to restart uranium enrichment research.

Iran has, however, warned of a world oil crisis once sanction is imposed over its nuclear weapons program, raising apprehensions in the international community of skyrocketing increases in the prices of crude oil in the world market.

Contributing to the world’s jittery over oil price hikes is the unresolved labor unrest in oil-rich Nigeria and new threats from al-Qaeda terrorist organization even as demand for oil remains high and the emergency supply cushion of oil is thin.

"The series of oil price hikes should serve as a constant reminder to all sectors – public and private – of the need to conserve our precious fuel," Bunye said, mindful that the Philippines remains highly dependent on exported oil.

"The situation also strengthens the administration’s resolve to further boost its efforts to search for alternative energy sources. For its part, Congress would do well to act soonest on pending energy bills," he added.

The Arroyo administration has been pushing for the country’s oil independence by promoting renewable and indigenous source of energy that seeks to help ease out the adverse impact to the country of the skyrocketing world’ oil prices.

Mrs. Arroyo had earlier issued Administrative Order 126 prescribing "additional austerity measures" for all government agencies to maximize use of fuel and conserve energy by at least 10 percent of their average monthly fuel and energy consumption.

Among energy-saving measures the government is contemplating to include a fuel rationing program "during the period of tight supplies," a staggered working hours for both the government and private sectors, and fixing school hours, especially in Metro Manila.

Other measures also include limiting the operating hours for business and entertainment establishments, strict regulation on the use of government official vehicles, and the use of air-conditioners in government offices and other commercial establishment.