Fuel prices to rise by up to P6.80/liter this week

MANILA – Oil companies will implement fuel price hikes of as much as PHP7.30 per liter this week as supply concerns persist following the latest developments in the Strait of Hormuz.

In an advisory issued Monday, Jetti Petroleum said it will increase diesel and gasoline prices by PHP5 per liter effective 6 a.m. Tuesday.

The company will impose another price adjustment at 6 a.m. Wednesday, raising diesel prices by PHP2.30 per liter and gasoline prices by PHP1.80 per liter.

Meanwhile, Seaoil will raise gasoline prices by PHP6.80 per liter, diesel prices by PHP7.30 per liter, and kerosene prices by PHP4.20 per liter, effective 6 a.m. Tuesday.

Petron will implement the same price adjustments at 6 a.m. Tuesday, including a PHP4.20 per liter increase in kerosene prices.

Jetti Petroleum President Leo Bellas earlier attributed the latest fuel price increases to supply disruptions linked to the ongoing conflicts involving Iran and Ukraine, which have tightened global oil supply and pushed prices higher.

“The disruption of oil supplies has lifted the risk of delayed crude arrivals for Asian refiners, which supported diesel and middle distillate prices as product availability continues to tighten due to slowing refinery output recovery,” Bellas said.

In his fifth State of the Nation Address (SONA) on Monday, President Ferdinand R. Marcos Jr. said the Philippines has strengthened its energy security through improved ties with countries such as Japan, South Korea, Oman, India, and Russia, helping ensure a stable fuel supply despite concerns triggered by the US-Iran conflict that erupted in late February.

“Because of these measures, we have ensured an adequate national supply that will last for nearly two months,” Marcos said.

The government earlier tasked the Philippine National Oil Company (PNOC) with procuring oil supplies for the country and allocated funding after Malacañang declared a state of national energy emergency on March 24, 2026. (PNA) -Philippine News Agency