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Manila Bulletin devider Business devider The Economy devider Motorists brace for ₱100-per-liter diesel; gasoline to reach ₱89 next week

Motorists brace for ₱100-per-liter diesel; gasoline to reach ₱89 next week

Published Mar 13, 2026 01:14 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)
Motorists face another sharp escalation in energy costs as regional tensions and supply disruptions in the Middle East push domestic pump prices toward record highs.
Based on the latest Mean of Platts Singapore (MOPS) trading through Thursday, March 13, diesel prices are expected to climb by ₱19.30 to ₱22.30 per liter. Gasoline prices are projected to rise between ₱14 and ₱17 per liter.
While oil companies typically announce final adjustments on Monday for implementation the following day, the four-day trading data suggested a significant burden for consumers.
Should these projections hold, diesel retail prices at the station level could reach between ₱97.30 and ₱107.05 per liter. Gasoline is expected to trade in a range of ₱80.90 to ₱89.90 per liter. The potential for even larger increases remains high as global benchmark prices remain elevated and traders factor in hefty premiums due to logistical risks.
The price volatility is largely driven by the deepening conflict in the Middle East, which has paralyzed key segments of the global oil trading system effectively. Shipping through the Strait of Hormuz—a vital chokepoint for roughly 20 percent of the world’s oil supply—has slowed to a crawl.
Dozens of commercial vessels continue to divert from the waterway following a series of maritime attacks and heightened military activity in the region.
The Department of Energy has noted that the current adjustments reflect “replacement costs,” as companies price fuel based on the average cost of purchasing new stock rather than historical inventory prices. To mitigate the immediate shock, several local oil firms have agreed to a staggered implementation of the hikes.
By Saturday, March 14, companies are scheduled to adjust their fifth staggered price tranches. This specific round is expected to see gasoline rise by ₱1 per liter, diesel by ₱2.50, and kerosene by ₱5.50. Following these adjustments, immediate pump prices are expected to range from ₱64.90 to ₱72.90 for gasoline, ₱73 to ₱83.50 for diesel, and ₱114.17 to ₱121.67 for kerosene.
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