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Manila Bulletin devider Business devider The Economy devider Gasoline to lead fuel price hike next week

Gasoline to lead fuel price hike next week

Published Feb 13, 2026 09:10 am
Motorists face a costlier Valentine’s week as domestic fuel prices are projected to climb for another consecutive period, driven by escalating geopolitical friction in the Middle East and shifting trade flows in Europe.
Industry data based on the first four days of trading for the Mean of Platts Singapore (MOPS) indicated that gasoline prices could see the steepest hike, with an estimated increase ranging from ₱1.40 to ₱1.60 per liter.
Diesel is expected to follow with a rise of approximately ₱0.50 to ₱0.70 per liter, while kerosene prices may climb by about ₱0.25 per liter.
The looming price adjustments reflect the tightening global market as analysts weigh the impact of renewed tensions between the United States (US) and Iran.
Rodela Romero, director of the Department of Energy Oil Industry Management Bureau (OIMB), noted that the risk of supply disruptions through the Strait of Hormuz has introduced a significant risk premium to international benchmarks.
Concerns are mounting over reports that the US may intercept tankers carrying Iranian crude, a move that would further squeeze available global supply.
Market volatility is also being exacerbated by combination of Western sanctions and the threat of new tariffs on nations purchasing Iranian goods.
Jetti Petroleum President Leo Bellas said these factors, coupled with Europe’s ongoing transition away from Russian energy, are forcing buyers to compete for limited cargoes from alternative sources. This pivot is restructuring traditional trade routes and keeping upward pressure on regional prices.
Beyond crude supply worries, gasoline is seeing independent strength due to seasonal surge in regional demand. Traders noted that consumption typically spikes ahead of the Lunar New Year festivities across Asia, tightening the balance for refined products.
However, the impact on Filipino consumers may be partially moderated by the recent performance of the local currency. A strengthening peso against the US dollar serves as a critical buffer, potentially shaving off some of the gains seen in dollar-denominated oil imports.
Final price adjustments, which are normally implemented by local oil firms every Tuesday, will depend on Friday’s closing trade results.
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