Fuel prices are set to rise again this week, adding pressure on businesses and households already coping with steady increases since the start of the year.
Jetti Petroleum Inc. said gasoline prices may go up by P0.40 to P0.60 per liter, while diesel could increase by P1 to P1.20 per liter, based on last week’s global crude oil trading.
Company president Leo Bellas said rising tensions between the United States and Iran are pushing global oil prices higher. Fears of possible military action have reduced hopes for a diplomatic solution, triggering market reactions that affect fuel costs worldwide.
Bellas noted that gasoline prices could have gone down due to healthy supply levels in the region. However, higher shipping costs and added risk premiums linked to geopolitical tensions have offset any potential rollback. He added that the stronger Philippine peso against the US dollar has helped cushion local pump prices from even bigger increases.
Meanwhile, Rodela Romero, director of the Oil Industry Management Bureau of the Department of Energy, said kerosene prices may rise by up to P0.10 per liter based on the agency’s four-day trading monitoring.
The expected adjustments follow last week’s across-the-board increase of P1.20 per liter for gasoline and P0.60 per liter for both diesel and kerosene.
This marks the sixth straight weekly increase for gasoline and the seventh consecutive hike for diesel and kerosene this year. So far in 2026, gasoline prices have gone up by a total of P4.20 per liter, diesel by P7 per liter, and kerosene by P5 per liter.
Data from the Department of Energy show that as of February 17 to 23, average pump prices in the National Capital Region stood at P54.70 per liter for RON 91 gasoline, P55 per liter for diesel, and P83.47 per liter for kerosene.
The continued increases are expected to raise transport and operating costs for businesses, which may lead to higher prices of goods and services. Households, especially those relying on public transportation and kerosene for daily needs, are also likely to feel the impact of the rising fuel costs.
