Economy

Brace Yourselves: Diesel Could Jump P19 Per Liter Next Week Amid Middle East Crisis

Tabloid PH Newsdesk

Mar 7, 2026 — 1 min read

Photo: GMA News

Filipinos better start budgeting now — because fuel prices are about to get ugly. The Department of Energy (DOE) warned Saturday that diesel could surge by at least P19 per liter next week, while gasoline may climb by P9 per liter. Kerosene? A brutal P31 per liter increase. And those are the minimum estimates, hindi pa kasama ang insurance and premiums.

DOE Oil Industry Management Bureau director Atty. Rino Abad dropped the bombshell during a Super Radyo dzBB interview, explaining that the escalating conflict in the Middle East is driving global oil prices through the roof. These new estimates are significantly higher than the initial projections of P15.33 for diesel and P7.09 for gasoline based on the first three trading days of the week.

The government is pushing oil companies to implement staggered price increases rather than one massive hike. President Marcos has already appealed to petroleum firms to cushion the blow, and the DOE gave companies until this weekend to submit their plans. Some firms are reportedly considering daily staggered increases if the hike is too large, or twice-a-week adjustments if it's manageable.

The DOE has also cracked down on unauthorized price increases. In Tagum City, Mindanao, one gas station was caught raising diesel prices by P8.35 per liter ahead of approved adjustments — from P64.85 to P73.20 per liter. They were ordered to revert immediately. Field offices across Luzon, Visayas, and Mindanao are now intensifying inspections with PNP support.

Marcos has also signaled he'll talk to Congress about getting authority to reduce excise taxes on petroleum products once Dubai crude crosses $80 per barrel. Energy Secretary Sharon Garin warned that while they understand global pressures, they "will not allow any party to take advantage of the situation." For now, pump prices from March 6-9 are capped — but after that, hold on tight.

Source: GMA News

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