Consumers brace for another round of sharp increases as global pressures continue to push local pump prices upward.
MANILA — The Department of Energy (DOE) said Tuesday that diesel prices could climb as high as P134.30 per liter this week, while gasoline may reach up to P112.40 per liter.
“These are estimates… Also, it will be different if it’s Metro Manila or in a far-flung barangay or municipality in the country,” DOE Secretary Sharon Garin said, noting that actual pump prices may vary depending on location and logistics.
STILL RISING, BUT SLOWER THAN LAST WEEK
Even with slightly tempered increases, the impact remains significant for consumers.
Garin emphasized that while the projected hikes are smaller compared to last week’s surge, they still represent a substantial increase.
“This is still a big jump even though it is smaller than last week,” she said.
OIL FIRMS IMPLEMENT ‘BIG-TIME’ PRICE HIKES
Shift from staggered adjustments to one-time increases adds to the consumer burden.
Most oil companies have opted to implement one-time, large price increases this week, unlike the previous two weeks when adjustments were rolled out in tranches.
According to the DOE, diesel prices are set to increase by P15 to P18 per liter starting Tuesday, while gasoline prices may rise by P8 to P12 per liter. Kerosene prices are also expected to go up by P12 to P22 per liter.
Only two oil firms have so far announced staggered price hikes beginning March 24.
FUEL PRICES HAVE MORE THAN DOUBLED SINCE JANUARY
The scale of increase highlights the intensity of the ongoing fuel crisis.
Diesel prices have more than doubled since January 2026, when they were priced at around P57.60 per liter. Current retail prices now range between P126 and P130 per liter.
Gasoline prices have also surged sharply, from about P54.90 per liter in January to roughly P94 to P99 per liter at present.
DEREGULATION LIMITS GOVERNMENT CONTROL
DOE underscores the lack of direct intervention in pricing.
Garin reiterated that the government has limited control over fuel prices due to the deregulated nature of the oil industry. This means oil companies independently determine pump prices based on global market conditions.
She added that while fuel prices in the Philippines have risen more sharply compared to neighboring countries, the difference lies in subsidies.
“Local prices do not have subsidies unlike in other countries,” Garin said.
ENVIRONMENTAL AND COST CONCERNS
Temporary measure aims to boost supply, but may come with trade-offs.
Meanwhile, Jetti Petroleum said the price difference between Euro 2 and Euro 4 fuel standards remains minimal.
Jetti Petroleum President Leo Bellas explained that the government’s move to allow the use of lower-quality Euro 2 fuels is intended to increase fuel inventory in the country.
However, he warned of logistical and operational challenges. Fuel stations would need separate storage tanks for Euro 2 fuels, in addition to existing Euro 4 supplies, which could lead to added costs due to reconfiguration.
MOTORISTS ADVISED TO CHECK COMPATIBILITY
Not all vehicles are suited for lower-quality fuel.
Bellas also cautioned motorists to ensure that Euro 2 fuel is compatible with their vehicles, noting that newer models are designed for cleaner, low-sulfur fuel standards.
No actual orders yet, as supply remains stable, for now.
The DOE clarified that the allowance for Euro 2 fuels is only a temporary contingency measure to boost supply if necessary.
So far, the agency said, no oil companies have placed orders for Euro 2 fuel.
UNCERTAIN OUTLOOK FOR FUEL PRICES
With global factors at play, volatility is expected to continue.
As global oil market pressures persist, Filipino consumers may continue to face fluctuating and elevated fuel prices in the coming weeks, with limited intervention options from the government under the current deregulated framework.