DAVAO CITY (July 20) — Motorists, commuters, transport operators and households are bracing for another painful fuel price shock as diesel and kerosene prices rise by more than P10 per liter starting Tuesday, July 21.
The Department of Energy (DOE) announced Monday that pump prices will increase by:
- Diesel: P10.68 per liter
- Kerosene: P11.77 per liter
- Gasoline: P3.65 per liter
The sharp increases are expected to put additional pressure on family budgets and transportation costs, with diesel widely used by public utility vehicles, delivery trucks, fishing boats and other businesses.
Kerosene, meanwhile, remains an important fuel source for some households, particularly in communities without reliable access to electricity.
Energy Secretary Sharon Garin blamed the latest increases on renewed tensions in West Asia that have disrupted the global oil supply chain and pushed international oil prices higher.
The Philippines is particularly vulnerable to global oil price movements because it imports about 98 percent of its crude oil requirements, Garin said.
“I know this is not the news anyone is hoping for, but we cannot change the direction of the global market,” Garin said at a press briefing.
Fuel supply remains stable
Despite the steep price increases, Garin assured the public that the country has sufficient fuel stocks.
“In fact, we are still above the legally required na 30 days. Umaabot na tayo ng 46 days ng storage. Steady po ‘yung supply, pero ‘yung problema are the prices,” she said.
The Philippines is required to maintain a minimum level of fuel inventory, and current stocks remain well above that threshold.
As of July 17, gasoline supplies were projected to last 43.37 days, while diesel stocks were estimated at 45.97 days and kerosene at 139.97 days.
Other fuel inventories were also reported at:
- Jet fuel: 82.31 days
- Fuel oil: 28.83 days
- Liquefied petroleum gas (LPG): 34.30 days
