The Department of Energy has warned that diesel prices in the Philippines could climb to as high as ₱90 per liter this March if oil companies do not implement staggered or gradual price adjustments.
Oil Management Bureau Director Rino Abad issued the caution during a Senate Committee on Foreign Relations hearing, noting that the escalating tensions in the Middle East, particularly between the United States and Iran—are driving global fuel costs upward.
Abad recalled that during the Russia-Ukraine war, diesel prices in the country nearly reached ₱90 per liter, but the current situation may have an even greater impact since the Middle East is one of the world’s largest sources of crude oil.
He stressed that without careful price management, the ongoing conflict could trigger sharper increases, further burdening Filipino consumers and businesses.
