Fuel prices expected to rise up to P2.31 per liter this week

MANILA – Fuel prices will increase by as much as PHP2.31 per liter this week due to effects of renewed hostilities in the Middle East.

Ceiling hike for this week is PHP1.08 per liter for gasoline, PHP2.31 per liter for diesel and PHP0.95 for kerosene, data released by the Department of Energy (DOE) on Monday showed.

Energy Secretary Sharon Garin said the price upticks are driven by global market forces, not domestic supply constraints.

"This is the difficulty with Philippines' long-time dependence on imported fuel. And this is the reality the Department of Energy is working to change because we know that every increase at the pump is felt by Filipino families and businesses,” she said in an online briefing.

In separate advisories, oil firms have announced their price adjustments effective 6 a.m. on Tuesday.

Jetti Petroleum said it will increase diesel prices by PHP2.30 per liter and gasoline by PHP1 per liter.

Seaoil will hike gasoline prices by PHP1.08 per liter and diesel by PHP2.31 per liter, and kerosene by PHP0.91 per liter.

Petron will increase gasoline prices by PHP1.10 per liter, diesel by PHP2.30 per liter, and kerosene by PHP1 per liter.

Garin said that because of the lower chances of a peace deal between the U.S. and Iran, “prospects for the normalization of navigation through the Strait of Hormuz have weakened”.

“These developments are driving up international prices and the impact ultimately reaching consumers at the pump in our country. A conflict thousands of kilometers away can still affect the jeepney driver filling up for the day,” she said.

Thus, the government is resolved to limit the war’s impact on domestic fuel prices, partly by “strengthening our energy security so that the country is better prepared for future external shocks.”

“This means investing in stronger domestic energy infrastructure and over the long term pursuing the measures such as Philippines Strategic Petroleum Reserve,” Garin said, referring to the proposal to have a government-operated facility to ensure a 60-day stockpile for fuel supply that will help address external risks on supply and prices.

DOE data show that domestic diesel supply is currently adequate for 47 days of average daily consumption. Supply levels for other fuels stand at 44 days for gasoline, 122 days for kerosene, 75 days for jet fuel, 54 days for fuel oil, and 34 days for liquefied petroleum gas.

Fuel subsidy

During the same briefing, DOE Director Rino Abad said around 98,000 public utility vehicles (PUVs) drivers nationwide who are beneficiaries of the fuel subsidy program have been extended a total of PHP537 million as of Aug. 21, 2026.

Under the program, the qualified drivers are given PHP12 per liter discount for a total of 150 liters per week, which can be availed in 3,383 fuel stations nationwide.

“This is one of the measures in place to help ease the impact of higher fuel prices on our public transport sector,” Garin said. 

-Philippine News Agency