Fuel prices are set to rise for a fifth straight week, adding more pressure on businesses and households already dealing with higher costs.
Jetti Petroleum Inc. said gasoline prices may increase by 40 to 60 centavos per liter, while diesel could go up by 80 centavos to P1 per liter this Tuesday, based on last week’s global oil trading. Kerosene prices may also inch up by around 5 centavos per liter, according to the Department of Energy (DOE).
Jetti President Leo Bellas said the continued increases are mainly due to worsening geopolitical tensions, particularly in the Middle East, which are pushing global crude oil prices higher. He noted that diesel prices are also being affected by weather-related supply issues and Europe’s reduced reliance on Russian fuel. In addition, China is expected to limit diesel exports as domestic demand rises during the Lunar New Year.
Gasoline prices have been relatively weaker, but rising crude prices, fears of possible conflict involving Iran, and concerns over shipping disruptions in the Strait of Hormuz are keeping prices from falling. Around 20 percent of oil exports from the Organization of the Petroleum Exporting Countries (OPEC) and its allies pass through the strait, making it a key global supply route.
If implemented, the new hikes will follow last week’s across-the-board increase of P0.80 per liter for gasoline, P1.60 for diesel, and P1.10 for kerosene. So far this year, gasoline prices have risen for four straight weeks, while diesel and kerosene have gone up for five consecutive weeks.
Year to date, fuel prices have climbed by P2.40 per liter for gasoline, P5.40 for diesel, and P3.80 for kerosene.
As of February 3 to 9, 2026, fuel prices in Metro Manila average P53.10 per liter for gasoline, P56.50 for diesel, and P82.25 for kerosene.
The continued increases are expected to affect transport operators, small businesses, and manufacturers that rely heavily on fuel, potentially leading to higher prices of goods and services. Households, especially those dependent on public transport and kerosene, are also likely to feel the strain as fuel takes up a larger share of daily expenses.
