Amid rising tensions in the Middle East, major oil firms in the Philippines will stagger fuel price hikes this week, with diesel jumping over ₱5 per liter.
Shell and Seaoil announced two waves of increases—₱1.75 to ₱2.60 per liter today, and another round on Thursday—bringing total hikes to ₱3.50 (gasoline), ₱5.20 (diesel), and ₱4.80 (kerosene).
The Department of Energy urged oil companies to offer discounts and delay full cost pass-throughs, noting the volatility is driven more by speculation than actual supply disruption.
As pump prices surge, calls are growing to suspend VAT on petroleum and increase fuel subsidies to ₱8,000 for transport workers.
Transport and agriculture officials are set to meet with the DOE to plan aid measures should oil prices breach the $80-per-barrel mark.
Source: PhilNews24 | June 24, 2025
