Marilyn Cahatol

Motorists gas up at a Petro Gazz station in Cainta, Rizal on March 10, 2022, as the firm rolled back their fuel prices amid rising fuel costs due to the Ukraine-Russia conflict. Fuel prices are expected to further increase the following week. Mark Demayo, ABS-CBN News

Article (news)

OIL 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/177033272537920220310-gazz-oil-rollback-MD-5357.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Motorists gas up at a Petro Gazz station in Cainta, Rizal on March 10, 2022, as the firm rolled back their fuel prices amid rising fuel costs due to the Ukraine-Russia conflict. Fuel prices are expected to further increase the following week.<em> Mark Demayo, ABS-CBN News </em></span></span></span></div><p>MANILA — The prices of diesel and kerosene may increase again next week due to tensions between the United States and Iran, 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 gasoline could go down by P0.10 per liter, while diesel and kerosene could go up by P0.30 and P0.05 per liter, respectively.</p><p>Romero said these still excluded premium operating costs, which could reach up to P0.40 to P0.50 per liter.</p><p>“Sabi ko nga mababaliktad ito. Malaki tsansa na lahat by Tuesday, increase na lahat sa presyo ng produktong petrolyo,” she told DZMM. </p><p>The DOE official explained that the premium operating costs cover the processes of refining the raw materials, storage fees on importing finished petroleum products, and the costs to bring them to local gasoline stations.</p><p>She said the increases come after the United States allegedly sent naval ships to the Strait of Hormuz, prompting Iran to threaten to close the strait should tension arise again. </p><p>Reuters on Wednesday <a href="https://www.reuters.com/world/middle-east/us-shoots-down-iranian-drone-approaching-aircraft-carrier-official-says-2026-02-03/">reported </a>that Iran’s Islamic Revolutionary Guard Corps harassed a US-flagged merchant vessel in the Strait of Hormuz, according to the US military.</p><div><a href="https://www.abs-cbn.com/news/world/2026/2/5/common-foe-different-agenda-us-and-israel-diverge-on-iran-1103">Common foe, different agenda: US and Israel diverge on Iran</a></div><div><a href="https://www.abs-cbn.com/news/business/2026/2/2/oil-prices-climb-again-as-february-starts-0952">Oil prices climb further in first week of February</a></div><div><strong>RELATED VIDEO:</strong></div><div style="text-align:center"><iframe width="560" height="315" src="https://www.youtube.com/embed/FOhuI2OrcS0?si=UCfNNSu9krqk37rP" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe><br/></div>

<p>The prices of diesel and kerosene may increase again next week due to tensions between the United States and Iran, the Department of Energy (DOE) said Friday.</p>

The prices of diesel and kerosene may increase again next week due to tensions between the United States and Iran, the Department of Energy (DOE) said Friday.

Diesel, kerosene prices seen to increase in second week of February

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Diesel, kerosene prices seen to increase in second week of February

Marilyn Cahatol,

ABS-CBN News

Published Feb 06, 2026 07:39 AM PHT

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Updated Feb 06, 2026 07:40 AM PHT

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Oil prices

Department of Energy

diesel

kerosene

gasoline

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