Benise Balaoing

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

Article (news)

FUEL PRICE HIKE

Alvin Elchico

ABS-CBN News

MANILA — Oil prices are climbing again in the third week of August.The Department of Energy (DOE) said oil prices may increase by the following amounts:Diesel - P3.84/L Gasoline - P2.49/L Kerosene - P5.01/LSeaoil announced that it will adjust prices according to the DOE&#x27;s numbers at 6 a.m. Tuesday.Meanwhile, Shell said it will implement the following price hikes:Diesel               P3.90/L ⬆️Gasoline          P2.50/L ⬆️Kerosene         P5.00/L ⬆️The government has begun implementing a P12-per-liter fuel discount for <a href="https://www.abs-cbn.com/news/business/2026/8/15/p12-per-liter-fuel-discount-for-puvs-begins-1706" rel="noopener noreferrer" target="_blank">public utility vehicles</a>.<div>INVENTORY LEVELS </div>Energy Undersecretary Alessandro Sales said the average inventory stands at 58 days in country supply, with diesel supply running around 57 days and gasoline at 55 days of inventory.According to Sales, there is no need for the government to add to the inventory level through the PNOC as the current supply is more than enough, despite rising oil prices in the world market.He said fuel price upticks will not likely return to drastic increases of over P10/liter though world oil prices are likely to remain elevated in the next weeks.<div>STRATEGIC PETROLEUM RESERVE</div>Energy Secretary Sharon Garin said the administration is confident it can construct even just one tank for petroleum reserve by end 2027 with an initial inventory of 1 million barrel of fuel.That is not even enough for a week&#x27;s supply of fuel for the country but at least the petroleum reserve project can be started during the current administration.<div><a href="https://www.abs-cbn.com/news/business/2026/8/15/fuel-prices-seen-to-surge-next-week-1354" rel="noopener noreferrer" target="_blank">Fuel prices seen to surge next week</a></div>

Big hikes in diesel, gasoline prices set in 3rd week of August

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Big hikes in diesel, gasoline prices set in 3rd week of August

Alvin Elchico,

ABS-CBN News

Published August 17, 2026 09:59 AM PHT

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Updated August 17, 2026 04:38 PM PHT

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gasoline

kerosene

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