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Manila Bulletin devider Business devider The Economy devider Diesel prices jump by up to ₱3.57 per liter this week, nearly wiping out June rollback

Diesel prices jump by up to ₱3.57 per liter this week, nearly wiping out June rollback

Published Jul 6, 2026 02:52 pm
AN elderly driver in Iloilo City. (Tara Yap)
AN elderly driver in Iloilo City. (Tara Yap)

Diesel prices are rising again in early July, nearly erasing the massive rollback enjoyed by motorists weeks before the end of June.

Effective Tuesday, July 7, diesel prices will rise by ₱1.57 to ₱3.57 per liter, while kerosene prices will increase by ₱1.70 to ₱3.70 per liter.

Although gasoline prices could decline by ₱1.75 per liter, oil companies may choose to implement the maximum price hike of up to ₱0.25 per liter.

The Department of Energy (DOE) prescribes the range of price adjustments that oil companies can use to determine their petroleum prices.

“I hope we can reach a certain point where [fuel prices] become pre-war. But it will take time, it won’t happen in just one week or two weeks,” Energy Secretary Sharon Garin said on Monday, July 6.

So far, the country has about 46.5 days’ worth of fuel inventory, with kerosene having the largest supply at 177.5 days’ worth.

Diesel has slightly more supply than gasoline at 43.81 days, while gasoline has 43.72 days.

Liquefied petroleum gas (LPG), or cooking gas, on the other hand, has a 42.28-day stock.

Energy Undersecretary Alessandro Sales further explained that these adjustments are weighed against Mean of Platts Singapore (MOPS), with geopolitical activities adding premiums to petroleum products.

Global market volatility has prompted recent action on the Oil Deregulation Law, as Garin stressed the need to amend certain provisions, including raising the national fuel reserve to up to 60 days’ worth of supply. The proposal is currently being assessed by the Senate and House committees on energy.

Related Tags

DOE OIL PRICE HIKE diesel Gasoline kerosene
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