Domestic fuel prices in the Philippines could rise more than initially expected this week due to escalating tensions in the Middle East following US and Israeli strikes on Iran.
Jetti Petroleum president Leo Bellas warned that higher freight and premium costs could push price increases even further.
Gasoline, diesel, and kerosene prices have been climbing since January, with cumulative increases of ₱4.80, ₱8.20, and ₱6.20 per liter, respectively.
Industry sources had projected this week’s potential hikes at ₱1.40–₱1.60 per liter for gasoline, ₱0.80–₱1 for diesel, and around ₱0.90 for kerosene.
Senator Sherwin Gatchalian urged authorities to prepare for worst-case scenarios, noting that the Middle East conflict could also impact food prices.
Source: PhilNews24 | March 2, 2026
FUEL PRICE HIKES EXPECTED AMID ESCALATING WAR ON IRAN
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