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Brix Lelis - The Philippine Star
February 7, 2026 | 12:00am
After four days of volatile trading, local industry sources indicated a possible upward price adjustment of P0.80 to P1 per liter for diesel and P0.30 to P0.50 per liter for gasoline.
Philstar.com / Irra Lising
MANILA, Philippines — Motorists are set to face another round of fuel price increases next week.
After four days of volatile trading, local industry sources indicated a possible upward price adjustment of P0.80 to P1 per liter for diesel and P0.30 to P0.50 per liter for gasoline.
Kerosene prices, meanwhile, could edge up by around P0.05 per liter, with further increases likely once oil firms’ operating costs and other premiums are taken into account.
Jetti Petroleum president Leo Bellas said prices “seesawed” this week as markets weighed prospects for easing tensions between US and Iran against mounting fears of disruption to oil flows in the Strait of Hormuz.
The strait, which connects the Persian Gulf to the Gulf of Oman and the Arabian Sea, is a key trade route for about 20 percent of the world’s oil and gas supply.
Even though global gasoline prices remained soft, Bellas noted that the potential rise at the domestic pump is due to higher premiums stemming from geopolitical tensions.
Rodela Romero, assistant director at the Department of Energy, cited other factors such as ample supply from the US and other non-OPEC sources, as well as softer demand for heating fuel due to milder weather behind the anticipated price movements next week.
Final price adjustments will be announced on Monday and will take effect the following day.
Earlier this week, gasoline, diesel and kerosene prices went up by P0.80, P1.60 and P1.10 per liter, respectively.
