Masakit sa Bulsa: Gas Prices Jump Another ₱1.90 Per Liter — 8th Straight Week of Hikes
Filipino motorists are bracing for yet another painful hit to their wallets as major oil companies announced massive price hikes effective Tuesday, March 3. Gasoline prices jumped by ₱1.90 per liter, diesel by ₱1.20, and kerosene by ₱1.50 — making this the 8th straight week of increases for gasoline and the 10th consecutive week for diesel and kerosene.
Chevron (Caltex), Petron, Seaoil, Shell, Cleanfuel, Petro Gazz, PTT Philippines, and Unioil all confirmed the adjustments. Most companies implemented the increase at 6 a.m. Tuesday, with Cleanfuel following at 4:01 p.m.
The relentless price increases are directly tied to the escalating conflict between the United States and Iran. Over the weekend, US-Israeli airstrikes killed Iranian Supreme Leader Ayatollah Ali Khamenei — a development that has sent global oil markets into turmoil and stoked fears of further supply disruptions.
With these latest adjustments, year-to-date net increases now stand at a staggering ₱6.70 per liter for gasoline, ₱9.40 for diesel, and ₱7.70 for kerosene. The Department of Energy-Oil Industry Management Bureau had earlier projected increases of over ₱1 per liter citing the ongoing Middle East conflict.
For ordinary Filipinos who rely on public transportation and drive to work, the non-stop fuel price increases are becoming unbearable. With no ceasefire in sight in the Middle East, analysts warn that prices could climb even higher in the coming weeks. Abangan na lang natin, mga kapatid.
Source: GMA News Online
