Brace Yourselves: Diesel Up by ₱24/Liter, Gasoline by ₱16 This Week

Mag-full tank na kayo today kung kaya — kasi grabe ang price hike na parating this week. The Department of Energy just announced projected fuel price adjustments for March 17–23, and the numbers are enough to make anyone's wallet cry.

Here's the damage: diesel is expected to increase by ₱20.40 to ₱23.90 per liter, gasoline by ₱12.90 to ₱16.60 per liter, and kerosene by ₱6.90 to ₱8.90 per liter. These are staggered hikes triggered by the ongoing tensions involving Iran, the United States, and Israel that continue to rattle global oil markets.

Oil companies have already started rolling out their adjustments. Total announced diesel price increases of ₱20.70 per liter and gasoline hikes of ₱14.10 per liter. Shell Pilipinas and Seaoil will raise gasoline prices by ₱16.20 per liter and kerosene by ₱6.90 per liter. Shell is hiking diesel by a staggering ₱23.90 per liter, while Seaoil follows closely at ₱23.30.

The timing varies slightly between companies. Total and Seaoil's new prices take effect until March 18, while Shell, Petron, and Flying V will implement their adjustments through March 19. Either way, commuters, drivers, and businesses are about to feel the full weight of the Middle East crisis at the pump.

President Marcos has responded by certifying as urgent a bill to amend the Biofuels Act of 2006, aiming to reduce the country's dependence on imported fuel. Meanwhile, a Pulse Asia survey shows inflation remains the top concern of 59% of Filipinos — and these fuel hikes are only going to make that worse.

Source: GMA News