Marilyn Cahatol

Motorists queue for fuel at a gas station in Pasig. Mark Demayo, ABS-CBN News/File

Article (news)

FUEL PRICE HIKE

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/17697292360711769729232087.jpeg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Motorists queue for fuel at a gas station in Pasig. <em>Mark Demayo, ABS-CBN News/File</em></span></span></span></div><p>MANILA — Motorists can expect another oil price hike as February opens, the Department of Energy (DOE) said Friday. </p><p>Based on the four-day trade monitoring in the Means of Platts Singapore, DOE Oil Industry Management Bureau Assistant Director Rodela Romero said the following increases could be expected next week, excluding oil companies&#x27; operating and other premium costs.</p><ul><li>Gasoline – P0.10 per liter</li><li>Diesel – P0.85 per liter</li><li>Kerosene – P0.45 per liter</li></ul><div><br/></div><p>Romero said the price increases come after the United States lost at least two million barrels of oil production per day due to an ongoing severe winter storm.</p><div><a href="https://www.abs-cbn.com/news/weather-traffic/2026/1/27/bitter-cold-grips-millions-as-us-digs-out-of-sweeping-snowstorm-0716">Bitter cold grips millions as US digs out of sweeping snowstorm</a></div><p>She added that the fire and power issue in Kazakhstan also pushed up oil prices. Last Jan. 18, a massive fire halted production at Kazakhstan’s Tengiz oilfield, one of the world’s largest.</p><p>Romero said the risk premium imposed on crude products from Iran also continued to affect the global market prices.</p><p>The Organization of the Petroleum Exporting Countries and allies (OPEC+) member countries, meanwhile, have not yet decided on their policy for production increase. Romero said the organization would meet in February.</p><p>Diesel users have consecutively seen price increases since 2026 began.</p><p>According to Romero, the net increase for diesel reached P3.80 in January alone. The price of gasoline and kerosene rose by P1.60 and P2.70, respectively.</p><div><a href="https://www.abs-cbn.com/news/business/2026/1/26/oil-prices-up-as-january-ends-0935">Oil prices up as January ends</a></div>

<p>Motorists can expect another oil price hike as February opens, the Department of Energy (DOE) said Friday. </p>

Motorists can expect another oil price hike as February opens, the Department of Energy (DOE) said Friday.

February to start with another oil price hike

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February to start with another oil price hike

Marilyn Cahatol,

ABS-CBN News

Published January 30, 2026 07:30 AM PHT

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Oil prices

Department of Energy

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