Benise Balaoing

Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. Oil companies raised gasoline prices by as much as P5.90 per liter and diesel by up to P19.80 per liter, marking one of the largest increases in recent weeks. Maria Tan, ABS-CBN News

Article (news)

OIL PRICE HIKE

Alvin Elchico

ABS-CBN News

<p>MANILA -- After a <a href="https://www.abs-cbn.com/news/business/2026/6/1/big-time-oil-price-rollback-set-on-june-2-tuesday-1355" rel="noopener noreferrer" target="_blank">hefty</a> rollback this week, diesel retail prices are likely to rebound by Tuesday next week due to renewed tension in the Middle East.</p><p>Based on the first 3 days of trading in the Mean of Platts Singapore, diesel and kerosene prices are up while the reduction in gasoline prices continues to thin in the last two days.</p><p>So far, after 2 trading days (Monday was a holiday in Singapore), diesel and kerosene prices are up, while gasoline prices are still down. </p><p>Diesel - P4/L hike<br/>Gasoline - P0.70/L rollback<br/>Kerosene - P4.60/L hike</p><p>But there are still 2 trading days left that can either further bloat or reduce the price adjustments for gasoline, diesel and kerosene.</p><p>Jetti Petroleum President Leo Bellas said he sees a potentially higher spike for diesel and a smaller price slash for gasoline in the last 2 days of trading.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe src="https://www.facebook.com/plugins/video.php?height=476&amp;href=https%3A%2F%2Fwww.facebook.com%2Freel%2F1030437933006484%2F&amp;show_text=false&amp;width=267&amp;t=0" width="267" height="476" style="border:none;overflow:hidden" scrolling="no" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><strong>NO INCREASE IN THE JUNE POWER RATES?</strong></div><p>Meanwhile, Energy Regulatory Commission (ERC) Chairman Nino Juan said it is possible that the June 2026 rates for Meralco and other electric cooperatives will neither increase nor decrease despite the series of yellow and red alerts in the Luzon grid.</p><div><a href="https://www.abs-cbn.com/news/business/2026/6/2/doe-confirms-spike-in-meralco-june-rate-due-to-recent-series-of-red-yellow-alerts-1914" rel="noopener noreferrer" target="_blank">DOE confirms spike in Meralco June rate due to recent series of red, yellow alerts</a></div><p>According to Juan, so far, Meralco and other electric cooperatives have not yet informed the ERC of any upward adjustment for the coming June billing.</p><p>The ERC earlier ordered Meralco and electric cooperatives to report to the commission any adjustment of more than P1/kwh as this needs to be staggered to protect consumers.</p><p>Juan said the commission can also hasten the approval of Meralco&#x27;s petition to refund around P9 billion in overrecoveries for 2025.</p><div><a href="https://www.abs-cbn.com/news/business/2026/5/28/meralco-files-petition-for-p9-billion-refund-1518" rel="noopener noreferrer" target="_blank">Meralco files petition for P9 billion refund</a></div><p>Meralco said it can refund P9 billion spread over 36 months, which would translate to a reduction of around P0.09/kwh for the 2 separate refund petitions.</p><p>But Juan said it remains uncertain if this can be approved in time for the release of the June billing or July billing.</p><p>Consumer group Power4People Coalition lead convenor Gerry Arances called on President Ferdinand Marcos Jr. to use his emergency powers to stop any upward adjustment in the coming bill.</p><p>Arances said consumers should not be obliged to pay for the shutdown of transmission and generating plants that resulted in higher electricity prices.</p><p>But Juan said consumers pay for the actual price of electricity in the spot market, while there is a separate mechanism to penalize erring transmission and generation entities that underperform.</p><div><strong>MAYNILAD WATER RATES DOWN, MANILA WATER STEADY</strong></div><p>Meanwhile, Maynilad rates will be slightly lower starting July due to a lower foreign currency differential adjustment (FCDA) for the third quarter of 2026 due to a stronger peso against the Japanese yen.</p><p>This translates to a reduction of P0.34 to P2.66 in the overall monthly charge to residential customers of Maynilad. </p><p>For Manila Water, the 3rd quarter FCDA is almost flat, so there will be no rate adjustment for its customers.</p><div><br/></div><div class="twitter-tweet twitter-tweet-rendered" style="display:flex;max-width:560px;width:100%;margin-top:10px;margin-bottom:10px"><br/></div><script async="" src="https://platform.x.com/widgets.js" charSet="utf-8"></script>

<p>After a big-time rollback this week, diesel retail prices are likely to rebound by Tuesday next week due to renewed tension in the Middle East.</p>

After a big-time rollback this week, diesel retail prices are likely to rebound by Tuesday next week due to renewed tension in the Middle East.

Diesel price hike possible next week due to renewed tensions in Middle East

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Diesel price hike possible next week due to renewed tensions in Middle East

Alvin Elchico,

ABS-CBN News

Published June 04, 2026 03:53 PM PHT

Read More:

oil prices

gasoline

kereosene

diesel

bill sa kuryente

maynilad

manila water

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