Diesel seen breaching P80/liter as Middle East conflict drives fuel price surge

MANILA (March 10) — Motorists and transport groups are bracing for another wave of steep fuel hikes this week, with diesel prices projected to breach P80 per liter in many stations as global oil markets react to the escalating conflict in the Middle East.

Major oil firms including Pilipinas Shell Petroleum Corporation, Petron Corporation, Chevron Philippines Inc., Total Philippines, Seaoil Philippines Inc. and Jetti Petroleum Inc. announced staggered price increases over several days, reflecting the sharp spike in global crude costs.

For diesel alone, price adjustments range from P17.50 to as much as P24.25 per liter, depending on the company.

By the end of the week, pump prices in some stations are expected to reach:

• Diesel: up to P87.44 per liter
• Gasoline: up to P70 per liter
• Kerosene: as high as P125 per liter

Staggered hikes across oil firms

At Shell stations, diesel prices will rise by a total of P24.25 per liter in three phases:

• March 10: P14.55/liter
• March 11: P7.30/liter
• March 12: P2.40/liter

Gasoline will increase by P8.75 per liter, while kerosene will surge by P36 per liter.

Petron, meanwhile, will implement a P19.20-per-liter increase in diesel, also spread across three days, while gasoline will rise by P8.80 per liter and kerosene by P32 per liter.

Other oil companies are implementing similar staggered hikes, with some spreading the increases across several days to soften the impact on motorists.

Chevron said its diesel prices will increase by P2.50 per liter per day from March 10 to March 16, while gasoline will rise by P1 per liter daily over the same period.

Pump prices nearing crisis levels

With the adjustments, diesel prices at Shell stations could range from P84.75 to P87.44 per liter, while gasoline may reach P60.85 to P69.15 per liter.

Other oil companies are expected to post similar pump prices:

Petron

• Diesel: P79.70 – P82.39/liter
• Gasoline: P60.90 – P69.20/liter
• Kerosene: P118.67/liter

Total

• Diesel: P80.70 – P83.39/liter
• Gasoline: P62.30 – P70.60/liter

Chevron

• Diesel: P78.00 – P80.69/liter
• Gasoline: P59.10 – P67.40/liter
• Kerosene: P125.17/liter

Jetti

• Diesel: P79.50 – P82.19/liter
• Gasoline: P61.10 – P69.40/liter

Seaoil

• Diesel: P81.50 – P86.19/liter
• Gasoline: P63.10 – P69.90/liter
• Kerosene: P119.67 – P121.67/liter

Transport, consumers brace for ripple effects

The looming diesel spike is particularly alarming for the transport sector since diesel fuels jeepneys, buses, trucks, and delivery vehicles, meaning the increase is expected to trigger higher fares and rising food and commodity prices.

Consumer advocates warn the surge could quickly cascade into higher transportation costs, increased logistics expenses, and inflation pressures, especially for low-income households already struggling with rising living costs.

Calls are also growing for the government to prepare fuel subsidies and price-stabilization measures should global oil tensions continue to drive prices upward.

With the Middle East conflict showing little sign of easing, analysts say Filipino consumers may need to brace for continued volatility in pump prices in the coming weeks.