Fuel prices are set to rise again this week, with diesel increasing by as much as PHP 18 per liter and gasoline by up to PHP 12 per liter, according to  the Department of Energy (DOE).

During a press conference on Monday, March 24, Energy Secretary Sharon S. Garin said the adjustments for March 24 to 30 reflect continued volatility in global oil markets driven by ongoing tensions in the Middle East.

Based on DOE estimates, gasoline prices across RON 91, 95, and 97 are expected to increase by PHP 8 to PHP 12 per liter, while diesel prices may rise by PHP 15 to PHP 18 per liter. Kerosene is also projected to go up by PHP 12 to PHP 22 per liter.

Garin noted that while the latest round of increases is smaller than the roughly PHP 20-per-liter hikes recorded in previous weeks, the adjustments remain significant.

“This is still a big jump… it will still affect our transportation industry, as well as all industries, as well as the buying power of our households,” she said.

To help mitigate the impact, the government has begun rolling out fuel subsidies for key sectors, including transport, agriculture, and fisheries. Assistance for households is also expected to be provided through the Department of Social Welfare and Development.

Despite the rising prices, the DOE assured that fuel supply remains stable, with current inventory levels sufficient to cover around 45 days based on existing consumption patterns.

Garin emphasized that the issue is not supply availability but price movements in the global market, noting that the country continues to receive fuel shipments as scheduled.

Fuel prices may vary depending on location and retailer, particularly in remote areas where logistics costs are higher.

With global oil prices still subject to geopolitical risks, how long can consumers withstand continued fuel price increases?

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