Big Time Fuel Price Hike: Petrol in PH Could Hit ₱90 per Liter as Middle East War Drives Global Oil Surge

MANILA, Philippines - Fuel prices in the Philippines may climb sharply in the coming weeks, with analysts warning that gasoline could approach ₱90 per liter if global oil prices continue to surge amid the ongoing conflict in the Middle East.

Energy officials say rising geopolitical tensions in the region have already pushed crude oil prices higher in global markets, prompting repeated pump price adjustments across the country.

The Philippines, which imports most of its petroleum products, is particularly vulnerable to global oil shocks.

Middle East Conflict Driving Global Oil Prices

The recent escalation of conflict in the Middle East has disrupted global energy markets, especially shipping routes near the Strait of Hormuz, a critical passage that carries about 20 percent of the world’s oil supply.

The disruption caused crude oil prices to surge past $100 per barrel, triggering fears of prolonged supply shortages and higher fuel costs worldwide.

Because the Philippines relies heavily on imported fuel, any increase in global oil prices typically leads to higher gasoline and diesel prices locally.

Weekly Fuel Price Hikes Already Happening

Local oil companies have already implemented several price increases this year.

Recent adjustments included an increase of about ₱1.90 per liter for gasoline, ₱1.20 for diesel, and ₱1.50 for kerosene, reflecting rising global oil prices linked to Middle East tensions.

Industry estimates also suggest gasoline prices could rise another ₱1.40 to ₱1.60 per liter in upcoming adjustments if global markets remain unstable.

DOE Warns Prices Could Increase Further

Officials from the Philippine Department of Energy (DOE) said fuel prices could climb by as much as ₱10 per liter in the coming weeks if tensions continue to push global oil prices higher.

Such an increase could bring gasoline prices closer to the ₱90 per liter level in some areas of the country.

The government is already coordinating with oil companies to possibly stagger large price increases to soften the impact on consumers.

What the Philippine Government Says

Energy officials say the country still has sufficient fuel reserves despite the global crisis.

Authorities also emphasized that oil companies in the Philippines maintain 30 to 60 days of fuel inventory to ensure supply stability even during international disruptions.

However, officials acknowledge that while supply remains secure, price increases are difficult to avoid because pump prices follow global oil market trends.

Impact on Filipino Consumers

If gasoline prices approach ₱90 per liter, economists warn that the effects could ripple across the economy.

Higher fuel costs may lead to:

• Increased transportation fares

• Higher food and logistics prices

• Rising inflation across key sectors

• Greater financial pressure on households and small businesses

Economic analysts say the next few weeks will be critical in determining whether global oil prices stabilize or continue climbing.