Presyo Alert: Global Oil Panic Puts PH Pump Hikes on Blast

A fresh global oil scare is putting the Philippines on edge after crude prices pushed past $110 per barrel, with analysts warning that a longer Middle East war could send prices even higher. Some banks now see $150 oil as a realistic scenario if the conflict drags on and key shipping routes stay disrupted.

The pressure point is the Strait of Hormuz, where around one-fifth of the world's crude normally passes. According to the report, the route has been shut to most tankers since the latest phase of the US-Israel conflict with Iran began on February 28, tightening supply and keeping the market tense.

For the PH, ramdam agad ang epekto. Industry estimates cited in the report say diesel may jump by around P17 to P19 per liter next week, while gasoline could rise by roughly P3 to P5 per liter. Those numbers are based on four-day trading in the Mean of Platts Singapore, the pricing benchmark for refined fuel in Southeast Asia.

The article also said emergency stock releases abroad may not be enough to calm the market. The International Energy Agency has pledged to unlock reserves, while the US plans a major release from its strategic stockpile, but analysts said the gap between lost supply and possible emergency output is still huge.

Locally, authorities are already watching for profiteering and hoarding habang Holy Week pa lang. The Philippine National Police said cases have already been filed against fuel dealers, while Malacañang separately debunked a viral so-called energy lockdown advisory as fake news. For now, the bottom line is simple: if tensions stay hot, pump prices here could get even more painful.

Source: The Manila Times — https://www.manilatimes.net/2026/04/04/news/oil-surge-beyond-150barrel-feared/2314082