Geline Salac

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

Jamaine Punzalan

ABS-CBN News

Agence France-Presse

<div><strong></strong><strong><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/wbqiVH0q0CI?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></strong><br/></div><p>MANILA — Big-time oil price hikes loom in the third week of July as the United States and Iran battled over the vital Strait of Hormuz in the renewed Middle East war, the Department of Energy said Friday. </p><p>DOE director Rino Abad said the following price adjustments were expected next week. </p><ul><li>Gasoline: P3 to P4 per liter increase </li><li>Diesel: P10 to P11 per liter increase </li><li>Kerosene: P11 to P12 per liter increase</li></ul><div><br/></div><p>“Mukhang wala na itong pag-asang bumaligtad, talagang sigurado nang mayroon tayong aasahang increases, price adjustment next week,” Abad told DZMM. </p><p>He said the looming hike could push pump prices past P80 per liter. </p><p>“Inaasahan natin mga P82 to P85 [per liter], except yung mga may kataasan na baka umabot ng higher to P88 to P90,” the official said. </p><p>The Land Transportation Franchising and Regulatory Board said Thursday it was studying a potential fresh round of<a href="https://www.abs-cbn.com/news/nation/2026/7/16/ltfrb-mulls-fuel-subsidy-fare-increase-as-oil-prices-jump-0753"> fuel subsidy and fare increase </a>as oil prices ticked higher.</p><p>“Maghihintay lang tayo ng policy direction from LTFRB dahil ito naman ay depende rin sa available na budget,” Abad said. </p><div><a href="https://www.abs-cbn.com/news/nation/2026/7/16/marcos-oks-p2-000-cash-aid-for-some-filipinos-amid-new-middle-east-tensions-1036">Marcos OKs P2,000 cash aid for low-income Filipinos as Middle East tensions flare anew</a></div><div><br/></div><div><strong>RENEWED WAR </strong></div><div><br/></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/f4BbZ6LJy0A?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span>The rekindled fighting in the Middle East came a month after the signing of a <a href="https://www.abs-cbn.com/news/world/2026/6/22/iran-us-talks-to-continue-through-the-night-in-switzerland-0858">preliminary deal that aimed to end the conflict</a>, which broke out in late February with massive US-Israeli strikes on Iran.</div><p>US Central Command (CENTCOM) announced it was conducting a new wave of strikes on Thursday evening to &quot;further degrade Iranian military capabilities&quot; -- the sixth straight night of attacks by American forces.</p><p>Iranian state TV reported two explosions in the city of Bushehr -- home to Iran&#x27;s only civilian nuclear plant -- in a &quot;continuation of the American enemy aggression&quot;, as well as a series of unattributed blasts in coastal Bandar Abbas.</p><p>The official news agency IRNA also said there were &quot;American enemy attacks on areas around Ahvaz&quot;.</p><p>Tehran had earlier warned it would target infrastructure across the region if US President Donald Trump followed through on a threat to attack power plants and bridges in Iran -- though the White House said he remained &quot;open to diplomacy&quot;.</p><p>Iran&#x27;s Revolutionary Guards said Thursday that they struck a US airbase in Jordan with ballistic missiles in response to what they described as an American attack near a children&#x27;s cancer hospital, also near Ahvaz.</p><p>Later on, Iranian state media reported<a href="https://www.abs-cbn.com/news/world/2026/7/17/us-strikes-in-iran-hit-airport-bridges-and-railway-station-0648"> strikes on bridges and an airport</a> in the southern part of the Islamic republic, near the Strait of Hormuz, which has been at the heart of the recent fighting and is crucial to global oil and gas flows. </p><p>US allies in the Gulf meanwhile responded to attacks, with Kuwait saying it intercepted Iranian drones and Bahrain sounding air raid sirens.</p><p>A senior Iranian military spokesman called for the US to withdraw from the region, saying &quot;we will never back down over the Strait of Hormuz&quot;, state TV reported.</p><p>The <a href="https://www.abs-cbn.com/news/world/2026/7/15/us-iran-launch-strikes-as-trump-backs-down-on-hormuz-levy-0705">Strait of Hormuz</a> was briefly reopened after the US-Iran deal in June, but Tehran said last week it would be closed again &quot;until the US ends its aggression&quot;.</p><p>The United States has also reimposed its blockade of Iran&#x27;s ports. </p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/P_r_fbbqClk?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div>   </div><div><br style="caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0)"/></div>

<p>Big-time oil price hikes loom in the third week of July as the United States and Iran battled over the vital Strait of Hormuz in the renewed Middle East war, the Department of Energy said Friday.</p>

Big-time oil price hikes loom in the third week of July as the United States and Iran battled over the vital Strait of Hormuz in the renewed Middle East war, the Department of Energy said Friday.

DOE: P10/L diesel price hike likely as US, Iran step up attacks

News

Entertainment

Lifestyle

Sports

Metro.Style

More

BINI

Sudoku

Word of the Day

Lotto

Horoscope

Business

DOE: P10/L diesel price hike likely as US, Iran step up attacks

Jamaine Punzalan,

ABS-CBN News,

Agence France-Presse

Published July 17, 2026 07:34 AM PHT

|

Updated July 17, 2026 07:40 AM PHT

Read More:

ANC promo

Israel

war

US

Trump

Iran

oil

fuel

diesel

gasoline

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.

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.