Another Oil Price Hike Expected Next Week
FUEL PRICE UPDATE – Several gas stations in the country announced another oil price hike starting next week.
Filipino motorists in the Philippines are preparing for another jump in fuel prices next week as the conflict in the Middle East continues to drive up global oil prices. The Department of Energy (DOE) has warned that the impact could be felt across diesel, gasoline, and kerosene, putting pressure on households and transport workers alike.
Gasoline prices could increase by around P10.43 per liter, diesel by P19.62 per liter, and kerosene by nearly P25 per liter. Diesel prices could approach P94 per liter, while gasoline could reach nearly P87 per liter. These figures are higher than initial estimates shared earlier this week.
The government is exploring several measures. President Ferdinand Marcos Jr. is seeking congressional approval to temporarily reduce excise taxes on petroleum products if Dubai crude exceeds $80 per barrel.
The DOE is also considering staggered price increases to avoid a sudden surge that could disrupt household budgets. Additional proposals include fuel subsidies for public transport and agriculture, and initiatives such as a four-day work week and carpooling to reduce fuel consumption.
The rapid price hike is already affecting daily commuters and delivery workers. Many are buying smaller amounts of fuel to manage costs, while some drivers are reconsidering using their vehicles altogether.
Jeepney and TNVS drivers have reported sharply higher fuel expenses, leaving them with less income after covering operating costs.
The DOE has also intensified monitoring of gasoline stations nationwide to prevent illegal price manipulation. In Tagum City, a station that increased diesel prices ahead of schedule was ordered to revert to the correct rates.
Authorities are working with local governments and urging motorists to report stations that take advantage of the market situation.
This is a developing report, just visit this website regularly or refresh the page for further updates.
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