Jamaine Punzalan

Motorists line up at a gasoline station along Philcoa in Diliman, Quezon City on Friday, March 6, in a rush to refuel ahead of the expected fuel price increase next week. Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE

Marilyn Cahatol

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/177336247174120260306-oil-price-hike-refueling-MT10.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Motorists line up at a gasoline station along Philcoa in Diliman, Quezon City on Friday, March 6, in a rush to refuel ahead of the expected fuel price increase next week. Maria Tan, ABS-CBN News</span></span></span></div><p>MANILA — Another big-time increase in oil prices is approaching next week, still due to the geopolitical conflict between the United States, Israel and Iran. </p><p>Based on the four-day trade monitoring in the Means of Platts Singapore, the following increases may be expected next week:</p><ul><li>Diesel – P16 per liter</li><li>Gasoline – P11  per liter</li><li>Kerosene – P3.50 per liter</li></ul><div><br/></div><p>Department of Energy Secretary Sharon Garin told DZMM Teleradyo that the agency urges gas stations to stagger the prices and continue discount promotions to soften the impact of the rapidly rising oil prices. </p><p>She said the Philippines has supplies until April, or 50 days from now. The agency is also coordinating with local gas stations to help them secure fast and “hopefully cheaper” oil. </p><p>The official urged the public to adjust their lifestyle to the economic impact of the Middle East conflict. </p><p>“Kung di ka kailangang magbiyahe, wag ka magbiyahe. Kung nagda-drive ka, kailangan ang pag-drive mo, there’s fuel-saving practices. Magtipid po tayo. Mag-adjust tayo,” she said. </p><p>Garin added that companies may implement a <a href="https://www.abs-cbn.com/news/nation/2026/3/9/supreme-court-adopts-hybrid-work-setup-to-conserve-energy-1100">work-from-home setup </a>to help their employees save fuel. </p><p>“Let’s save on fuel, let’s not spend kung hindi naman kailangan para ma-adjust na rin natin yung expenses natin because this is something that will happen and we cannot control,” she said. </p><p>Garin also reminded people not to hoard fuel to avoid disrupting the logistics system of local gas stations. </p><p>“Hindi naman sa kulang ang meron sa bansa. Pero yung delivery hindi rin kaya. Naka-compute na yun eh kung ilang litro ang kailangan sa isang araw ng isang gas station. Kung mag-hoarding tayo, masisira yung system ng logistics kaya minsan nagsasara sila,” she said. </p><p>“We have enough as long as people don’t hoard,” she added. </p><p>Iran vowed Thursday to make the United States regret attacking the Islamic republic and said it would keep up a chokehold on the Strait of Hormuz that has sent oil prices soaring.</p><div><a href="https://www.abs-cbn.com/news/world/2026/3/13/iran-says-will-make-us-regret-war-as-oil-prices-soar-0714">Iran says will make US regret war as oil prices soar</a></div><p>The International Energy Agency warned that the Middle East war could lead to <a href="https://www.abs-cbn.com/news/business/2026/3/12/oil-tops-100-as-iran-attacks-offset-iea-stockpile-release-1619">&quot;the largest supply disruption&quot; in oil industry history</a>, but US President Donald Trump wrote on social media that defeating Iran&#x27;s &quot;evil empire&quot; was more important than crude prices. <strong>— With Alvin Elchico, ABS-CBN News and Agence France-Presse</strong></p><div><a href="https://www.abs-cbn.com/news/world/2026/3/12/marcos-jr-concerned-over-rising-human-cost-of-middle-east-conflict-2305">Marcos Jr. concerned over ‘rising human cost’ of Middle East conflict</a></div><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/lZiPb9WHCKI?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Another big-time increase in oil prices is approaching next week, still due to the geopolitical conflict between the United States, Israel and Iran.</p>

Another big-time increase in oil prices is approaching next week, still due to the geopolitical conflict between the United States, Israel and Iran.

Another big-time oil price hike looms amid US, Israel-Iran war

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Another big-time oil price hike looms amid US, Israel-Iran war

Marilyn Cahatol,

ABS-CBN News

Published March 13, 2026 07:55 AM PHT

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Updated March 13, 2026 08:57 AM PHT

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Oil prices

Middle East

Department of Energy

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