Fuel prices in the Philippines are set to rise for the 10th consecutive week due to escalating conflict in the Middle East affecting global energy markets.
Diesel may increase by ₱14–₱14.50 per liter, while gasoline could climb by ₱7–₱7.50 per liter, potentially pushing diesel prices to ₱129 per liter in some areas.
The spike adds pressure on public utility vehicle operators already struggling with high operational costs, as global oil benchmarks reached $115 per barrel amid attacks on energy infrastructure.
The Department of Energy maintains that supply remains sufficient for immediate demand, but the government is moving to secure two million barrels of oil and exploring alternative imports from Russia and the US.
Energy Secretary Sharon Garin urged companies and consumers to avoid hoarding or profiteering while Petron coordinates additional imports to stabilize the domestic market.
Source: PhilNews24 | March 21, 2026
DIESEL PRICES APPROACH ₱129 AMID 10TH WEEK OF INCREASES
Latest from Business
The National Grid Corporation of the Philippines (NGCP) is considering accelerating the Mindoro-Panay interconnection project amid
The Philippines’ current account deficit widened by 51.7 percent to $15.44 billion in the first half
The Philippines’ chicken meat imports are expected to rise by 14.7 percent to 780,000 metric tons
Toyota Motor Philippines Corp. (TMP) expects vehicle production to fall by nearly 6 percent this year
The Philippine Institute for Development Studies (PIDS) urged the government to pair any increase in excise