Starting September 8, 2026, fuel prices in the Philippines will see substantial increases, with gasoline rising by P4.69, diesel by P5.18, and kerosene by P5.58 per liter.
The Department of Energy announced these adjustments on September 7, citing renewed geopolitical tensions in the Middle East and the depreciation of the peso as key factors driving the increase.
Impact of Global Events on Local Prices
This hike is a direct result of renewed tensions, affecting energy flows through the Middle East.
Sharon Garin, Energy Secretary
- Gasoline: +P4.69 per liter
- Diesel: +P5.18 per liter
- Kerosene: +P5.58 per liter
This latest price increase follows a brief rollback last week, where gasoline prices decreased by P0.32 per liter, diesel by P3.83, and kerosene by P3.84.
Before the conflict escalated on February 28, typical retail prices in Metro Manila averaged P56 per liter for gasoline RON95 and P55 for diesel.
The renewed pressure on fuel prices is primarily linked to heightened tensions in the Middle East, where conflicts involving Iran and Israel have led to concerns over oil supply disruptions.
Additionally, a weaker peso against the U.S. dollar exacerbates the situation, making imported fuels more expensive.
With the Philippines being a net importer of petroleum products, fluctuations in global oil prices and regional supply constraints significantly affect local consumers.