Motorists will have to tighten their belts once again as fuel prices are set to rise starting Tuesday, February 17.
The Department of Energy (DOE) announced that gasoline prices are expected to climb by nearly ₱1 per liter (around 95 centavos), while diesel will see a modest increase of 10 centavos per liter.
Kerosene is also projected to go up by 25 centavos per liter.
DOE officials explained that the adjustments are driven by global market pressures.
Heightened geopolitical tensions in Iran have disrupted oil supply chains, while China’s move to stockpile fuel ahead of the Chinese New Year has further strained demand.
These factors have pushed international oil prices upward, directly impacting local pump rates.
The exact figures will be confirmed on Monday, following the agency’s four‑day forecast.
Analysts warn that even small increases in fuel costs can ripple through the economy, raising transportation fares, food prices, and household expenses.
This latest hike adds to a string of fuel price fluctuations in recent months, underscoring the Philippines’ vulnerability to global oil market volatility. Motorists are advised to prepare for tighter budgets as the impact of rising fuel costs continues to be felt across sectors.
