MANILA(March 17) — Oil companies will stagger a fresh round of major fuel price increases this week following consultations with the Department of Energy (DOE), as global oil markets remain volatile amid the ongoing conflict in the Middle East.
The DOE said gasoline prices will rise by P12.90 to P16.60 per liter, while diesel will increase by P20.40 to P23.90 per liter. Kerosene prices are set to climb by P6.90 to P8.90 per liter.
The adjustments will begin on Tuesday, March 17, marking the ninth consecutive week of fuel price hikes.
Several oil firms said they would stagger the increases over several days to soften the immediate impact on consumers.
Shell Philippines announced that it will raise gasoline prices by P16.60 per liter, diesel by P23.90, and kerosene by P6.90, implementing the adjustments gradually over three days starting March 17, with full implementation by March 19.
Seaoil Philippines said gasoline prices will increase by P16.30 per liter, diesel by P23.30, and kerosene by P6.90, with the hike staggered over two days from March 17 and fully applied by March 18.
Meanwhile, Petron Corporation and Flying V will implement increases of P12.90 per liter for gasoline, P20.40 for diesel, and P8.90 for kerosene.
TotalEnergies Philippines said it will raise gasoline prices by P14.10 per liter and diesel by P20.70 per liter.
The latest adjustments follow another round of steep increases last week, when gasoline prices rose by P7 to P13 per liter, diesel by P17.50 to P24.25, and kerosene by P32 to P36 per liter.
Energy officials said the continued increases reflect tight global oil supply and market uncertainty linked to the escalating conflict in the Middle East, which has pushed international crude prices upward.
Analysts warn that sustained fuel price hikes could ripple across the economy, increasing transportation costs, food prices, and overall inflation, particularly if global oil markets remain unstable in the coming weeks.
