Fuel prices in the Philippines continue to climb at the start of February, with diesel rising for the sixth consecutive time and gasoline extending a month-long increase.
Gasoline, diesel, and kerosene are set to increase by P0.80, P1.60, and P1.10 per liter, respectively, according to major oil firms including Jetti, Seaoil, Petron, Caltex, and PTT Philippines.
The Department of Energy (DOE) cited tensions between the US and Iran, supply challenges from Russia, Kazakhstan, and Libya, and cold weather in the Northern Hemisphere as key drivers of the price hike.
Jetti president Leo Bellas added that the European Union’s ban on Russian refined products further tightens the global supply and raises domestic pump prices.
The DOE assured the public that it is coordinating with relevant agencies to keep fuel prices fair, reasonable, and compliant with the law.
Source: PhilNews24 | February 3, 2026
