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 -- Motorists are likely to get a much-needed respite from oil price hikes next week, as fuel prices continue to go down in the world market.Players are now waiting to see how the new economic sanctions against Iran and its allies will play out.So far, from August 24 to 26, oil prices have dropped by the following amounts:Diesel - P3.50/L decreaseGasoline - P1.10/L decreaseKerosene - P3.50/L decrease<div><a href="https://www.abs-cbn.com/news/business/2026/8/24/oil-prices-climb-in-last-week-of-august-1116" rel="noopener noreferrer" target="_blank">Oil prices climb in last week of August</a></div>In the Philippines, fuel prices have gone up for 2 straight weeks. The hike has reached a total of P6.20/L for diesel, P3.60 for gasoline, and P6.00 for kerosene.

Motorists are likely to get a much-needed respite from oil price hikes next week.

Motorists are likely to get a much-needed respite from oil price hikes next week.

Rollback likely next week as world crude oil prices ease

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Rollback likely next week as world crude oil prices ease

Alvin Elchico,

ABS-CBN News

Published August 27, 2026 03:33 PM PHT

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Updated August 27, 2026 07:42 PM PHT

Read More:

oil prices

gasoline

kerosene

diesel

meralco

bill shock

electric bill

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