Another Big-Time Oil Price Hike Set on Tuesday (March 4, 2026)

FUEL PRICE UPDATE – Another big-time oil price hike is expected this as global tensions continue to affect oil supply.

Starting on Tuesday, March 24, 2026, motorists in the Philippines are facing another round of fuel price increases this week. The Department of Energy announced that new adjustments will be bringing higher costs for gasoline, diesel, and kerosene.

According to Energy Secretary Sharon Garin, gasoline prices may increase by around P6.47 per liter, while diesel could rise by P11.88 per liter. Kerosene is expected to see the largest jump at P13.66 per liter.

Although these increases are still significant, officials explained that they are lower compared to the sharp hikes recorded in the previous week.

Authorities shared that the international oil market has started to calm down slightly after days of sudden price movements. Even so, fuel prices remain unstable because of the ongoing tension in the Middle East.

One major concern involves the situation around the Strait of Hormuz, a major passage where a large portion of the world’s oil shipments pass through. Any disruption in this area can quickly affect supply and prices across many countries, including the Philippines.

The government is also encouraging oil companies to consider staggered price increases to help ease the impact on consumers. However, this approach can be difficult to apply because oil prices in the global market continue to change from day to day.

Despite the concerns, the energy department said the country’s current fuel supply is expected to last until the first week of May as more shipments arrive. Some companies, including Petro Gazz, have also offered limited price rollbacks at selected stations to help reduce the burden on drivers.

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