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

MANILA -- Gasoline prices are seen going down while diesel prices are seen going up next week.Based on the first 4 days of trading on the world market, oil prices may move by the following amounts:Gasoline - P0.80/L decrease Diesel - P2.50/L increase Kerosene - P1.80/L increasevIn a statement, oil company Jetti Petroleum said prices rose further because renewed fears of supply disruption after the US launched strikes on Iran on July 9, with Iran responding with attacks on US infrastructure in neighboring Gulf states. The skyrocketing prices of oil following the US-Israeli attacks on Iran have been blamed for the surge in Philippine inflation since March. But even with the expected normalization of oil shipping on the Strait of Hormuz, analysts have said that it may take months before fuel prices return to pre-Mideast war levels.<div><a href="https://www.abs-cbn.com/news/business/2026/7/7/inflation-eases-to-6-4-percent-in-june-as-fuel-prices-decline-0914">Inflation eases to 6.4 percent in June as fuel prices decline</a></div>Inflation has eased to 6.4 percent in June. National Statistician Denni Mapa said the Middle East conflict can still affect the country’s inflation going forward, as transportation costs still contribute substantially to the inflation number.

Gasoline prices are seen going down while diesel prices are seen going up next week.

Gasoline prices are seen going down while diesel prices are seen going up next week.

Gasoline prices down, diesel prices seen up next week

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Gasoline prices down, diesel prices seen up next week

Benise Balaoing,

Alvin Elchico,

ABS-CBN News

Published July 10, 2026 02:38 PM PHT

Read More:

oil prices

gasoline

kerosene

diesel

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