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Manila Bulletin devider Business devider The Economy devider Diesel may go up by around ₱18; gasoline by ₱15 next week

Diesel may go up by around ₱18; gasoline by ₱15 next week

Published Mar 12, 2026 04:04 pm
The price board at a gasoline station in Davao City displays the updated rates on Thursday, March 12, 2026. Domestic oil firms have implemented “staggered” price hike this week to cushion the impact of a massive ₱17 to ₱24 per liter surge triggered by supply volatility and tensions in the Middle East. (Photos by Keith Bacongco I MB)
The price board at a gasoline station in Davao City displays the updated rates on Thursday, March 12, 2026. Domestic oil firms have implemented “staggered” price hike this week to cushion the impact of a massive ₱17 to ₱24 per liter surge triggered by supply volatility and tensions in the Middle East. (Photos by Keith Bacongco I MB)
Consumers are bracing for another round of significant fuel price hikes next week, though early market signals suggest the pace of the increases may finally be decelerating from this week’s record highs.
Based on trading data from the first three days of the week, the Mean of Platts Singapore (MOPS) average indicated that diesel prices are projected to rise by ₱17.7 to ₱18.7 per liter. While substantial, the forecast was a slight softening compared to the current week’s unprecedented spike, which saw diesel rates surge between ₱18 and ₱24 per liter.
Gasoline is following a similar upward trajectory, with estimates pointing to an increase of ₱14.5 to ₱15.5 per liter.
The unrelenting pressure on local pump prices is being driven primarily by supply volatility in the Asian region, exacerbated by the ongoing conflict in the Middle East. However, some analysts suggested the immediate “pinch” could begin to ease.
Market sentiment shifted slightly early this week following remarks from United States (US) President Donald Trump, who suggested that the hostilities could conclude sooner than initially feared. The comments triggered a brief pullback in global benchmarks, though prices remain at historically elevated levels.
Refining the outlook further, kerosene—a critical fuel for the aviation and household sectors—also showed signs of a potential, albeit modest, reprieve. Early estimates suggest a rollback of approximately ₱1.30 per liter, which would offer minor relief after a staggering ₱38.5 per liter jump recorded this week.
Traders are also monitoring the re-entry of Russian oil into the global market following the relaxation of certain sanctions, a factor that could weigh on prices in the coming sessions.
Despite these cooling factors, the risk of a rebound remains high. Recent escalations, including attacks on commercial vessels in the Strait of Hormuz, have renewed concerns over supply disruptions in one of the world’s most critical transit points for crude.
Domestic oil firms are set to implement a staggered price adjustment on Friday, March 13. Gasoline is expected to rise by ₱1 per liter, diesel by ₱2.50 to ₱3 per liter, and kerosene by ₱5.5 per liter.
These movements will push the price of gasoline to a range of ₱63.9 to ₱72.9 per liter, while diesel will climb to between ₱70.5 and ₱84.75 per liter. Kerosene remains the most expensive at the pump, with prices projected between ₱108.67 and ₱122.67 per liter.
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