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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

Vivienne Gulla

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/177304575641520260306-oil-price-hike-refueling-MT10.jpg" style="width:960px" class="fr-fic fr-dib" alt="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" 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. <em>Maria Tan, ABS-CBN News</em></span></span></span></div><p>MANILA (<strong>UPDATE</strong>) -- Fuel prices are expected to go up P17 to P24 per liter this week, according to Energy Secretary Sharon Garin, who described it as the “highest jump”.</p><p>She told the House Committee on Ways and Means on Monday, however, that fuel companies agreed to divide the amounts over several days or &#x27;stagger&#x27; the implementation of the hikes instead of delivering a one-time big-time price hike. This is to cushion the impact on consumers, Garin said.</p><p>The Energy chief explained that the price hikes were triggered by supply issues amid conflict in the Middle East.</p><p>“The one that will be implemented tomorrow will be the highest jump. The range is around P17 to P24 increase for this coming week, which is Tuesday up to Monday next week,” Garin said.</p><p>&quot;They have agreed to stagger it. In the whole week, hindi isang bagsakan na P20 kaagad tomorrow.&quot;</p><p>The DOE has released the upcoming adjustments of various oil firms starting Tuesday, March 10.</p><p>For example, market leader Petron will increase diesel prices by P11.60/liter by March 10, followed by a P3.80/liter hike each for March 11 and March 12.</p><p>For gasoline, Petron is raising prices by P5.20/liter on March 10, and P1.80 each day for March 11 and March 12. The biggest spike is for kerosene, which is P19/liter tomorrow and P6.50/liter each day for March 11 and March 12.</p><p>For Shell, the increase in diesel tomorrow, March 10, is at P14.55/liter, P7.30 for March 11, and P2.40 for March 12. For gasoline, Shell will increase gasoline prices by P5.25/liter on March 10, P2.65 on March 11 and another round of P0.85/liter on March 12.</p><p>Other companies like Chevron will do the increase from March 10 to March 16, with an equal P2.50/liter hike every day. For gasoline, it will increase prices every day too, by P1/liter every day until March 16, from March 10.</p><div><br/></div><div><strong>GAS STATIONS INSPECTED</strong></div><p>The DOE has inspected around 87 gas stations today but only 55 were issued show cause orders.</p><div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/business/2026/3/9/doe-54-gas-stations-tagged-in-alleged-hoarding-profiteering-amid-looming-price-hikes-0940">READ: DOE issues show-cause orders vs gas stations over alleged violations amid looming price hikes</a></div><p>Garin said oil firms that implemented price spikes before the actual announcement of price adjustments by Tuesday violated the law, and are asked to explain why cases should not be filed against them.</p><p>Garin also explained that oil firms are using &quot;replacement cost&quot; in determining the price increases and not base on when the stocks were purchased.</p><p>A number of consumers are questioning why oil firms are increasing prices when the current supply was bought weeks ago.</p><p>The DOE has requested the assistance of the Philippine National Police, local government units and the DICT in monitoring gas stations to ensure the agreed staggered implementation of fuel price hike is complied with.</p><p>&quot;We are trying to police this. The problem is we have 14,000 gas stations. Half of that are independent. So the ones with the big companies are easier to direct, but the independent ones we had to go gas station to gas station. So we have directed or issued directives already to the LGUs, to the DILG, to the PNP, even to our oil companies,&quot; Garin said.</p><div><br/></div><div><strong>NO NEED TO PANIC</strong></div><p>The DOE says there is enough fuel supply until the end of April, so consumers need not worry about supply yet. According to Garin, forward orders are already coming in to replenish current supply.</p><p>She does not see the need for “fuel rationing” at the moment.</p><p>“If the pronouncements of President [Donald] Trump is true, that it should last just four weeks, then the Philippines is still in a good state,” Garin said.</p><p>Energy Undersecretary Wimpy Fuentebella appeals to motorists or consumers to use the e-gov app to file complaints against erring gas stations.</p><p>The DOE and DICT have come up with a feature in the app that enables consumers to file grievances regarding fuel prices.</p><p>“It&#x27;s a deregulated industry, so we do not have the power to regulate the price. We monitor, they report, they justify, but the DOE does not have teeth in that sense, because of the law,” Garin noted.</p><div><br/></div><div><strong>POSSIBLE COLLUSION?</strong></div><p>Lawmakers questioned why local fuel companies are quick to implement price hikes, but slow in implementing rollbacks.</p><p>“Because of the system na cyclic nga ho talaga ‘yan… ‘Pag pataas, you reflect, ‘pag pababa, you reflect. Noong ma-deregulate… that has been the cycle. Nagkaroon ng daily movement talaga, and then it will be reflected right after the impact,” DOE Director Rino Abad replied.</p><p>“That is their discretion, you mean to say? Patay tayo diyan,” Manila 2nd District Representative Rolando Valeriano said.</p><p>House Committee on Ways and Means Chairperson Miro Quimbo  suspects possible “collusion” among oil companies, citing almost similar prices of fuel products.</p><p>“Bakit sila pag nag-a-agree ng price, bakit halos pare-pareho? Bakit gabuhok ang diperensya ng bawat isa?...So ang nangyayari dyan, naghihinala ako, hindi ba&#x27;t parang may collusion d’yan? Nagsasabwatan?” he said.</p><p>&quot;If you look at them, hindi naman malalakihan ang diperensya, pero may diperensya. Kaya lang, very similar ang product... So hindi mo in-expect talaga na talagang deviated masyado ang price,&quot; Abad replied.</p><div><br/></div><div><strong>PROPOSED SUSPENSION OF FUEL EXCISE TAX</strong></div><p>The House Committee on Ways and Means is expected to approve on Wednesday the measure granting the President power to suspend or reduce excise tax on petroleum products during national or global economic emergencies, according to Quimbo.</p><p>He added that if the President certifies the measure as urgent, the House plenary may be able to pass it on third and final reading next week, as part of efforts to help bring down fuel prices.</p><p>“The best is to moderate these increases…  Otherwise what we&#x27;re facing is we&#x27;re facing a worse situation of an economic contraction. Wala na activity o bababa dahil sa pagmahal ng gasolina which is the main ingredient of our economy,” Quimbo explained.</p><p>The DOE expressed support for the measure. Garin hopes Congress will be able pass the measure before it goes on a Lenten break.</p><p>If fuel excise tax is suspended, it could help ease the expected impact on inflation of the fuel price hikes, according to DepDev Undersecretary Rosemarie Edillon. She noted that the price hikes also have an impact on purchasing power.</p><div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/business/2026/3/9/ltfrb-to-revise-proposed-provisional-fare-increase-1120">READ: LTFRB to adjust proposed fare increase as fuel prices surge</a></div><p>The proposed excise tax suspension on fuel is expected to reduce government revenues by P135.9 billion if implemented from May to December 2026, based on DOF estimates. This figure, however, can be partially offset by the additional collection from VAT on oil.</p><p>Quimbo also pushed for a review of the oil deregulation law, to allow the government to regulate fuel prices during “extraordinary times.”</p><div><br/></div><div><strong>GOVERNMENT SUBSIDY</strong></div><p>Government interventions will kick in once the price of fuel hits 80 dollars per barrel. Current average is 75 dollars per barrel, according to Garin.</p><p>Interventions include assistance to drivers, farmers, and fisherfolk. </p><p>Transportation Undersecretary Ramon Reyes said total funding for government’s fuel subsidy for the transport sector is at P2.5 billion, which will come from the 2025 General Appropriations Act. If needed, additional funding may be requested from the Office of the President, he added.</p><p>Reyes said the subsidy rate is P10,500 per unit of modern jeepney, P5,000 per unit of traditional jeepney, P12,500 per TNVS unit, P1,150 per tricycle, and P1,800 each for delivery riders.</p>

<p>Oil companies have agreed to divide the increase over several days instead of delivering a one-time big time hike.</p>

Oil companies have agreed to divide the increase over several days instead of delivering a one-time big time hike.

Oil firms agree to staggered hikes; P17 to P24 increases expected this week— DOE

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Oil firms agree to staggered hikes; P17 to P24 increases expected this week— DOE

Alvin Elchico,

Vivienne Gulla,

ABS-CBN News

Published March 09, 2026 12:57 PM PHT

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Updated March 09, 2026 04:43 PM PHT

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oil price hike

Sharon Garin

DOE

Petron

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Chevron

conflict

Middle East

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