The Department of Energy (DOE) confirmed on Monday that fuel prices will rise across the board this week, ending two consecutive weeks of reductions, as global oil markets remain volatile amid developments in the Middle East.
Effective 6 a.m. on August 18, the price per liter will increase to P2.49 for gasoline, P3.84 for diesel, and P5.01 for kerosene. So far, only Seaoil has officially announced it will implement these exact adjustments. The hikes follow last week’s cuts of P4.70 for gasoline, P4.30 for diesel, and P4.88 for kerosene. Over the two-week period before this week’s uptick, the cumulative rollbacks total P5.43 for gasoline, P4.90 for diesel, and P6.97 for kerosene.
Energy Secretary Sharon Garin acknowledged the price increases are unwelcome news for Filipinos, noting they directly reflect shifting global oil costs. “Last week showed us how quickly developments abroad can affect the energy situation here at home,” she said, stressing that as a net fuel importer, the Philippines remains highly sensitive to Middle East market conditions. Garin added that the government is working to reduce this vulnerability, diversify fuel sources, and build greater energy independence so the country is not overly reliant on any single market.
Latest DOE data for the August 11–17 period puts the National Capital Region prices averaging P72.30 per liter for RON 91 gasoline, P85.50 for diesel, and P112.10 for kerosene.
In a positive development, the country’s fuel supply total 58.34 days as of August 14—up from 45.22 days at the end of July. Gasoline supply rose from 40.50 days to 55.26 days; diesel from 47.32 days to 57.55 days; kerosene from 132.86 days to 164.01 days; jet fuel from 68.24 days to 111.86 days; fuel oil from 46.68 days to 49.79 days; and liquefied petroleum gas from 35.60 days to 40.22 days.
Energy Undersecretary Alessandro Sales noted that while volatility persists, the steep P20–P25 per liter weekly price hikes seen in the past are now unlikely. “The big weekly price adjustments that hit from P20 to P25 per liter seem already unlikely to happen. However, the volatility from week to week is there to stay,” he said.
