Economy

Brace Yourselves: Diesel Set to Jump ₱19.62, Gasoline ₱10.43 — The Biggest Fuel Hike in PH History

Tabloid PH Newsdesk

Mar 8, 2026 — 1 min read

Photo: Manila Bulletin

Kung akala mo mahal na ang gas ngayon, wait mo lang Monday. The Philippine energy market is bracing for what could be the biggest single fuel price increase in the country's history, driven by the escalating Middle East conflict that's sending global oil benchmarks through the roof.

Based on the full five-day trading period of the Mean of Platts Singapore (MOPS), diesel is projected to surge by a staggering ₱19.62 per liter, while gasoline could climb by ₱10.43. But the real shocker? Kerosene — used by many rural Filipino households — is expected to spike by an unprecedented ₱24.92 per liter. Final price adjustments will be officially announced on Monday, March 9.

If the projected increases push through in full, motorists could face gasoline prices as high as ₱86.93 per liter, while diesel could peak near ₱94.43. Energy Secretary Sharon Garin said her department is negotiating with oil companies to implement the hikes in stages — a staggered approach to avoid a sudden inflationary shock on Filipino consumers.

The DOE has also ordered a crackdown on hoarding and unauthorized early price hikes. In Tagum City, authorities recently caught a retailer prematurely jacking up diesel prices by ₱8.35 per liter ahead of the scheduled adjustment, ordering an immediate rollback. The multi-agency task force mobilized under President Marcos Jr.'s directive is now on high alert nationwide.

Meanwhile, the crisis has reignited debate over the Downstream Oil Industry Deregulation Act of 1998. Secretary Garin argued the nearly three-decade-old law leaves the government toothless during global supply crises and signaled that the executive branch will push Congress to amend it with stiffer penalties and broader price transparency requirements when the legislative session resumes.

Source: Manila Bulletin

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