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Manila Bulletin devider Business devider The Economy devider Motorists brace for near ₱5/liter fuel hike next week

Motorists brace for near ₱5/liter fuel hike next week

Published Jun 20, 2025 09:52 am  |  Updated Jun 20, 2025 01:04 pm
A big-time fuel price hike, estimated at nearly ₱5 per liter, is set to rock motorists next week, driven by external shocks from escalating Middle East tensions.
Based on the four-day Mean of Platts Singapore (MOPS), gasoline could see an upward adjustment of ₱2.50 to ₱3.20 per liter, with diesel potentially climbing between ₱4.30 and ₱4.80 per liter.
Kerosene is also anticipated to go up around ₱4.25 to ₱4.40 per liter.
These adjustments are likely caused by the ongoing geopolitical tensions in the Middle East, particularly between Iran and Israel.
The Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) said that this major price shock directly correlates to shipping disruptions.
“Major oil price shock looming as [the] Israel-Iran conflict threatens critical global shipping passage,” said Rodela Romero, OIMB director.
Jetti Petroleum president Leo Bellas elaborated that this could affect supply transportation in the Strait of Hormuz, where a significant portion of the world’s oil shipments pass, potentially leading to further disruptions in global fuel supply and price volatility.
“[There are] concerns that a direct United States involvement would widen the conflict and trigger direct attacks on energy infrastructures, have caused the further spike in prices,” he added.
Earlier this week, the DOE looked into the possibility of rolling out fuel subsidies to the transport and agriculture sector, noting the allocated budget under the General Appropriations Act (GAA) of 2025.
According to the DOE, the Department of Transportation (DOTr) has a ₱2.5 billion fuel subsidy for public utility drivers, including taxis, ride-hailing services, and delivery platforms.
The Department of Agriculture (DA), on the other hand, has about ₱585 million in subsidies for farmers and fisherfolk.

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