Big-Time Oil Price Hike Set on Tuesday (July 21, 2026)

Big-Time Oil Price Hike Looms Next Week as Global Oil Market Faces Fresh Pressure

FUEL PRICE UPDATE – Various oil companies in the country are set to implement a big-time oil price hike starting next week.

Starting Tuesday (July 21, 2026), the Department of Energy (DOE) said fuel prices are expected to increase significantly. Diesel prices may increase by around P10 to P11 per liter, while gasoline could go up by P3 to P4.50 per liter. Kerosene is also expected to see a hefty increase of P11 to P12 per liter.

DOE officials explained that the expected adjustments are being driven by concerns over possible disruptions in global oil supply. The situation has been linked to ongoing conflict in the Middle East, particularly in and around the Strait of Hormuz, one of the world’s most important oil shipping routes.

The projected increase comes on top of fuel price adjustments already implemented this week. Diesel prices recently rose by as much as P4.62 per liter, while gasoline prices increased by around P1 per liter.

Some fuel stations in Metro Manila are already selling gasoline for more than P96 per liter and premium diesel for over P90 per liter.

Government agencies are now looking at ways to reduce the impact on commuters and transport operators. The Land Transportation Franchising and Regulatory Board is currently studying whether fuel subsidies should be expanded or if fare adjustments may be necessary to help public utility vehicle drivers cope with rising fuel costs.

At present, fuel subsidies are already being provided to eligible jeepney and utility vehicle drivers, but expanding the program would require billions of pesos in government funding each month.

As oil prices remain unstable, authorities continue to monitor developments abroad while preparing measures to help cushion the effects of higher fuel costs on Filipino families and businesses.

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