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Diesel seen rising P15 per liter, gasoline P7 next week as Mideast conflict continues

A motorcycle rider stops for a refill at a gasoline station along EDSA in Quezon City on February 26, 2022. Gasoline prices which already increased for 8 straight weeks recently are expected to rise further amid the escalating conflict between Ukraine and Russia. George Calvelo, ABS-CBN News

Article (news)

Alvin Elchico

ABS-CBN News

MANILA (UPDATE) -- Consumers will need to brace themselves for a possible massive hike in the prices of petroleum products next week.  As of March 6, based on the first four trading days, here is the equivalent peso per liter jump in finished products based on world market adjustments:Diesel        P18.00/L increaseGasoline    P8.00/L   increaseKerosene  P33.00L  increaseBut there is one more trading day left, which can see the increase reduced or further bloated.<div>GAS STATIONS ALREADY HIKING PRICES</div>Meanwhile, the Department of Energy has confirmed that several gas stations have jacked up prices ahead of the expected hefty price adjustments next week, despite the absence of an official announcement from their companies.ABS-CBN was able to check and confirm that some gas stations in Fairview have indeed adjusted prices upward upon the order of dealers.Some have adjusted by P0.50/liter for both diesel and gasoline, while others have increased by as much as P5/liter, preempting a big price spike next week due to the war in the Middle East.The DOE said it has intensified monitoring of reports of possible hoarding and profiteering in the sale of petroleum products.&quot;The DOE coordinated with the Department of the Interior and Local Government (DILG) and the Philippine National Police (PNP) to ensure swift action against any violators,&quot; said DOE in a statement.The government is also asking consumers and the public to promptly report any suspected incidents of hoarding, refusal to sell, price manipulation, or profiteering to the DOE through its Oil Industry Management Bureau, Consumer Welfare and Promotion Office, and Field Offices. Consumers may file complaints through the government hotline 8888, the DOE Consumer Welfare and Promotion Office telephone number 8840-2267, the Department of Energy Official Facebook Messenger, or via email at cwpo@doe.gov.ph.<div>STAGGERED PRICE HIKES?</div>The DOE also said it is looking at subdividing the increase across several days or weeks instead of implementing it in one blow, to cushion its impact on consumers.Energy Secretary Sharon Garin said the DOE will announce over the weekend how the &#x27;staggered&#x27; price hike is going to be implemented by oil firms.Whether it is going to be recovered over several weeks or within 1 week only will be decided by the government and oil firms over the weekend.Garin has appealed to motorists not to purchase extra supplies or hoard fuel as this will distort the demand and supply balance, which can further affect the local market.Earlier, the DOE said oil firms have an inventory or fuel stock that can last from 1 to 2 months without replenishment.But Garin said oil firms have assured her that ordered shipments are coming already, which can replenish the current supply. Importers source most of their refined fuel products in the region through countries like China, South Korea, Malaysia and Taiwan.Only Petron still buys crude oil as it continues to maintain an oil refinery in Bataan that processes this to diesel and gasoline.<div>ENERGY SAVING MEASURES</div>Meanwhile, Garin said doing the 4-day work week setup will save around 14 to 15 percent in energy costs.But consumers can also do car pooling, lessening air conditioning use and putting the thermostat at 24 degrees instead of 18 degrees Celsius, and making sure their vehicles are well-maintained in order to utilize fuel efficiently.<div>EXCISE TAX SUSPENSION</div>Garin said Malacanang&#x27;s certification of the bill as urgent will fast-track the process even before Congress goes into the Lenten break.If the government decides to suspend the excise tax, fuel prices will immediately go down by a hefty sum.<div style="margin-left:20px">Excise Tax</div>Gasoline    P10.00/literDiesel        P6.00/literIf the government decides to remove the excise tax now, it can help mitigate the looming big-time price increase by Tuesday and the coming weeks.

Consumers will need to brace themselves for a possible massive hike in the prices of petroleum products next week.

Consumers will need to brace themselves for a possible massive hike in the prices of petroleum products next week.

Diesel seen rising P18 per liter, gasoline P8 next week as Mideast conflict continues

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Diesel seen rising P18 per liter, gasoline P8 next week as Mideast conflict continues

Alvin Elchico,

ABS-CBN News

Published March 06, 2026 01:09 PM PHT

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Updated March 06, 2026 03:18 PM PHT

Read More:

oil price hike

gasoline

diesel

excise tax

big time price hike

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