Fuel prices will rise again this week after the Department of Energy (DOE) officially announced price adjustments for gasoline, kerosene, and diesel starting March 17.

During a press conference on Monday (March 16), Energy Secretary Sharon S. Garin said that fuel price increases will fall within the following ranges in the coming week of March 17 to 23: gasoline by PHP 12.90 to PHP 16.60 per liter, diesel by PHP 20.40 to PHP 23.90 per liter, and kerosene by PHP 6.90 to PHP 8.90 per liter.

The price hike will be added to the pump prices recorded in the previous week. According to DOE monitoring the range should be anywhere from PHP 63.40 to PHP 75.00 per liter for gasoline, PHP 70.95 to PHP 91.00 per liter for diesel, and PHP 85.00 to PHP 134.89 per liter for kerosene.

The DOE did also warn that actual prices might fluctuate depending on the location of the gas station due to other factors such as delivery and transport costs.

Several oil companies have also committed to staggering the price increases in an effort to cushion the impact of such escalating rates on consumers.

Based on the DOE briefing, Total, Shell, Seaoil, Petron, and Flying V have submitted staggered price adjustments that will be implemented over two to three days during the week.

Under the staggered schedules, Total will increase gasoline prices by PHP 14.10 per liter and diesel by PHP 20.70 per liter over two days from March 17 to 18.

Shell will implement adjustments of PHP 16.60 per liter for gasoline, PHP 23.90 per liter for diesel, and PHP 6.90 per liter for kerosene across three days from March 17 to 19.

Seaoil will implement increases of PHP 16.30 per liter for gasoline, PHP 23.30 per liter for diesel, and PHP 6.90 per liter for kerosene over two days from March 17 to 18.

Petron and Flying V both committed to three-day staggered adjustments from March 17 to 19, with gasoline rising by PHP 12.90 per liter, diesel by PHP 20.40 per liter, and kerosene by PHP 8.90 per liter.

Despite the rising prices, Garin said the government cannot directly intervene and alter the costs as the oil industry operates in a deregulated market.

“Sabi ng batas sa all the regulations, hindi pwede i-control. This is a free market. Hindi pwede i-control ng gobyerno ang presyo,” she said.

She reaffirmed that the DOE’s duty is to monitor these oil companies and make sure that any adjustments to pump prices remain reasonable.

The agency also warned against hoarding fuel, which is said can not only disrupt supply but also worsens the situation for other consumers.

“Hoarding distorts the market. Hindi yan fair kasi sa iba,” Garin stressed.

The DOE said it is working with local government units, the Philippine National Police, and other agencies to monitor fuel stations and ensure continuous supply across the country.

At the same time, the department reassured the public that there is currently enough fuel supply available.

“The most important for today is we have supply,” Garin said.

The secretary also said the DOE has informed other government agencies after global oil prices reached around USD 80 per barrel, triggering preparations for possible assistance to sectors heavily affected by rising fuel costs.

These include public utility vehicle drivers, farmers, and fisherfolk, although the rollout of subsidy programs will be handled by other agencies.

The DOE also urged the public to practice fuel conservation and responsible consumption as the government continues to monitor developments affecting global oil supply.

How will the latest fuel price adjustments affect commuters and businesses in the coming weeks?

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