ABS-CBN
Diesel seen to go up by P5/L next week
Motorists in the Philippines are set to face significant fuel price increases starting Tuesday, June 24.
Gasoline prices are expected to rise by P3.30 to P3.50 per liter, while diesel could increase by P5.00 to P5.20 per liter.
Kerosene prices are also projected to go up by P4.50 to P4.70 per liter.
These price adjustments are attributed to the ongoing conflict between Israel and Iran, which has led to increased trading prices on the Mean of Platts Singapore.
The escalating tensions threaten global shipping passages, particularly the Strait of Hormuz.
This marks the second consecutive week of substantial fuel price hikes.
President Ferdinand "Bongbong" Marcos Jr. has stated that the government may extend fuel subsidies to stakeholders severely affected by the price increases.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Fuel prices are expected to rise by almost P2 per liter for diesel and gasoline next week due to Israel's attacks on Iran and ongoing geopolitical tensions.
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Pump prices for gasoline and diesel will increase by P1.80 per liter, while kerosene will go up by P1.50 per liter starting Tuesday, June 17, 2025.
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The Department of Energy (DOE) warns of a potential price increase for diesel by as much as PHP4.80 per liter next week.
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Local oil companies have agreed to implement fuel price increases in two tranches this week to lessen the burden on consumers, following discussions with the Department of Energy (DOE).
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Diesel prices in the Philippines are expected to increase by nearly P4 per liter due to escalating geopolitical tensions in the Middle East impacting global oil markets.
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