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

ABS-CBN News

MANILA -- Shell Pilipinas posted a P1.9 billion core net loss in the first half of 2026 as the Middle East crisis hit the oil industry in the Philippines.Despite soaring oil prices, Shell&#x27;s reported net loss--which includes inventory effects and one-off items--also reached P2.7 billion.&quot;Oil prices rose sharply, the peso weakened, and uncertainty around potential supply disruptions increased pressure on fuel costs, working capital, and customer affordability,&quot; Shell said in a statement.It noted that the Middle East war raised concerns about energy security and fuel availability across Asia, especially in import-dependent markets like the Philippines.&quot;These market and pricing dynamics compressed industry margins, as higher product costs could not always be fully or immediately reflected in retail and commercial pricing,&quot; the company said.&quot;Reported net loss included approximately P1 billion in inventory holding losses as oil prices subsequently declined from earlier peaks,&quot; Shell said.Shell said a 4 percent growth rate in its commercial fuels business helped prop up its first half numbers. “The first half tested the resilience of energy supply chains across the industry. Our priority was clear: keep fuel available, support our customers and trade partners, and help keep the Philippine economy moving,” said Shell Pilipinas president Lorelie Quiambao Osial.“As we move into the second half, our focus is to restore profitability, strengthen cash generation, and further improve Shell Pilipinas’ competitiveness,&quot; she said.<div><a href="https://www.abs-cbn.com/news/business/2026/8/17/big-hikes-in-diesel-gasoline-prices-set-in-3rd-week-of-august-0959" rel="noopener noreferrer" target="_blank">Big hikes in diesel, gasoline prices set in 3rd week of August</a></div>

Shell Pilipinas posted a P1.9 billion core net loss in the first half of 2026 as the Middle East crisis hit the oil industry in the Philippines.

Shell Pilipinas posted a P1.9 billion core net loss in the first half of 2026 as the Middle East crisis hit the oil industry in the Philippines.

Shell Pilipinas posts first half net loss despite soaring oil prices

News

Entertainment

Lifestyle

Sports

Metro.Style

More

BINI

Sudoku

Word of the Day

Lotto

Horoscope

Business

Shell Pilipinas posts first half net loss despite soaring oil prices

Benise Balaoing,

ABS-CBN News

Published August 17, 2026 04:01 PM PHT

Read More:

Shell

Shell Pilipinas

Middle East crisis

oil prices

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

Sign Up

I have read and agree to the Terms and Privacy Policy.

Haven't received our newsletter?

Check your inbox to verify and confirm your subscription. If you don’t see it, please check your spam or junk folder.

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.