Tovic Salvador

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. Long queues of cars and motorcycles formed as drivers tried to fill up before the anticipated hike in gasoline and diesel prices.  Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE

David Dizon

ABS-CBN News

The Department of Energy has announced more fuel price increases effective  Tuesday, March 24. Gasoline prices will go up P6.47 per liter, diesel prices will go up P11.88/liter and kerosene will go up P13.66/liter, the country’s energy chief said.DOE Secretary Sharon Garin said oil prices have slightly calmed down in the international market, with fewer spikes in the last few days.The energy department continues to ask oil companies to implement staggered price increases “pero ‘yung iba hindi kaya so we’re still waiting for their reports for today kung ano yung plano nila,&quot; Garin said.She added that implementing staggered price increases means lost revenue since fuel prices are fluctuating daily due to the Middle East conflict.The energy chief said fuel stockpiles will last until the first week of May as more deliveries come in.Philippine Economic Society ex-president Alexander Escucha, meanwhile, warned it is highly likely that the present oil crisis may echo the 1973 global oil crisis, which led to severe fuel rationing.Escucha noted economists have warned that even if the Iran crisis ends this month, restarting oil refineries and liquefied natural gas facilities of Qatar and Iran could last 3-4 weeks up to 3 months.“My conclusion here is - wag na natin hintayin ang last week of April para mamaluktot. Ngayon pa lang, the government should be proactive to prepare for a - hindi lang possible but highly likely na - ang pag cut off or severe reduction of supply of oil similar to the 1973 war,” he said in a separate DZMM interview.He added: “Maghanda na sa possible rationing. Dapat ngayon pa lang handa na ang ating mentalidad.”Carpooling and busing services are just some of the measures that could help mitigate a fuel crisis, he said.Oil prices rose early Monday after US President Donald Trump gave Iran a 48-hour ultimatum to open the Strait of Hormuz or face decimation of its energy infrastructure and Israel warned the war would continue for several more weeks.The US president is demanding the Islamic republic reopen the blocked Strait of Hormuz, through which some 20 percent of the world&#x27;s oil and gas shipments transit. The bottleneck has nearly halted all petroleum shipments through the narrow waterway, and oil prices have spiked. <div>MORE PETRO GAZZ STATIONS ROLL BACK PRICES</div>Independent oil firm Petro Gazz, meanwhile, announced more stations that will <a href="https://www.abs-cbn.com/news/business/2026/3/20/petrogazz-offers-rollback-while-other-oil-firms-raise-prices-1712">roll back prices</a> of diesel and gasoline by 5 pesos per liter while other firms implement price increases. The other stations are as follows: LUZONPetro Gazz Lingayen PangasinanPetro Gazz Mabini PangasinanPetro Gazz Bugallon PangasinanPetro Gazz Alaminos PangasinanPetro Gazz Calatagan BatangasPetro Gazz Dolores QuezonPetro Gazz Mangilag QuezonPetro Gazz Macalenon QuezonPetro Gazz Silang Cavite<div> </div>VISAYASPetro Gazz Banica Roxas CityPetro Gazz Dinginan Roxas CityPetro Gazz Ivisan CapizPetro Gazz Atabay AntiquePetro Gazz Culasi AntiquePetro Gazz Sibalom AntiquePetro Gazz Bata Bacolod CityPetro Gazz Kabankalan 1 Negros OccidentalPetro Gazz Victorias Negros OccidentalPetro Gazz Jaro Iloilo CityPetro Gazz Banate Iloilo CityPetro Gazz  Binalbagan Negros OccidentalPetro Gazz Valladolid Crossing Negros OccidentalPetro Gazz New Buswang AklanPetro Gazz Tabon Negros OrientalPetro Gazz Cadiz 2 Negros OccidentalPetro Gazz Kabankalan 2 Negros OccidentalPetro Gazz Granada BacolodPetro Gazz Manlurip TaclobanPetro Gazz Manduriao Iloilo CityPetro Gazz Buhang Iloilo CityPetro Gazz Kabankalan 3 Negros OccidentalPetro Gazz Carcar CebuPetro Gazz Liburon CebuPetro Gazz Barili CebuPetro Gazz Pitalo CebuPetro Gazz Argao CebuPetro Gazz Ginatilan Cebu<div> </div>MINDANAOPetro Gazz  Bayugan Agusan del SurPetro Gazz Calinan DavaoPetro Gazz Digos CityPetro Gazz Cabantian DavaoPetro Gazz Calumpang GensanPetro Gazz Apopong GensanPetro Gazz Bulu GensanPetro Gazz Tubod Carmen DavaoPetro Gazz Gingoog Misamis Oriental Petro Gazz Mabuhay GensanPetro Gazz Sudapin KidapawanPetro Gazz  Tubod Carmen Davao del Norte<div> </div><div> </div><div> </div><div>With Agence France-Presse</div>

The Department of Energy has announced more fuel price increases effective Tuesday, March 24.

The Department of Energy has announced more fuel price increases effective Tuesday, March 24.

Gas, diesel up again: DOE lists latest fuel price increases

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Gas, diesel up again: DOE lists latest fuel price increases

David Dizon,

ABS-CBN News

Published Mar 23, 2026 08:59 AM PHT

|

Updated Mar 23, 2026 11:58 AM PHT

Read More:

department of energy

oil crisis

oil prices

gasoline

diesel

kerosene

sharon garin

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