DOE Says Oil Price Hike to Take Effect Again Next Week

Oil Price Hike to Take Effect Again Next Week, Says DOE

FUEL PRICE UPDATE – The Department of Energy reported that an oil price hike is set to take effect starting next week.

Filipino motorists should prepare for another increase in fuel prices next week as the Energy Department announced a fresh round of adjustments at the pump. The expected hike comes as global oil prices continue to move upward due to several issues affecting supply in different parts of the world.

Based on current market trends, gasoline prices may go up by around P0.10 per liter. Diesel is expected to see a bigger increase of about P0.85 per liter, while kerosene may go up by around P0.45 per liter.

These changes are expected to be felt starting next week, once oil companies make their official announcements.

According to the DOE, the increase is linked to problems in global oil supply. These include disruptions in the United States, slow recovery of oil production in Kazakhstan, and rising tensions involving Iran.

The decision of OPEC plus to delay plans to increase oil production has also added pressure to prices worldwide.

Oil companies are expected to announce the final price adjustments on Monday, February 2, 2026. The projected increases already consider extra costs such as premium pricing and daily operational expenses of fuel companies.

For many commuters, drivers, and transport groups, the news is another challenge. With diesel showing one of the highest increases, public transport operators and delivery workers may feel the impact more strongly.

Higher fuel prices often affect not only transportation but also the prices of basic goods.

This is a developing report, just visit this website regularly or refresh the page for further updates.