Energy Secretary Sharon Garin warned that diesel prices in Metro Manila may reach P115 per liter as oil firms implement hikes of P20.40–P23.90 per liter for diesel, P12.90–P16.60 for gasoline, and P6.90–P8.90 for kerosene.
The increases follow last week’s record jumps after the US and Israel attacked Iran, with pump prices outside Metro Manila expected to be higher due to transport costs.
Garin assured that the Philippines has sufficient fuel reserves to last until the end of April, while Petron is negotiating crude oil purchases from Russi, and the government plans to procure one million barrels of diesel.
Over 646 complaints of overpricing and early hikes have been filed against gas stations, with the DOE resolving some cases. Experts suggested revisiting the Oil Deregulation Law to protect consumers from global oil price shocks.
Source: PhilNews24 | March 17, 2026
