Diesel Prices to Surge Past P80 per Liter Amid Middle East Conflict
Fuel prices in the Philippines are poised for a significant increase this week, with diesel expected to exceed P80 per liter by the weekend. This sharp rise is directly linked to the ongoing conflict in the Middle East, which has disrupted global oil supplies and driven up costs.
Staggered Price Adjustments Announced by Major Oil Firms
Several leading oil companies have issued advisories detailing a series of staggered price adjustments. Pilipinas Shell will implement a total increase of P24.25 per liter for diesel, spread over three days: P14.55 on March 10, P7.30 on March 11, and P2.40 on March 12. For gasoline, the total hike is P8.75 per liter, with increments of P5.25, P2.65, and P0.85 on the same dates. Kerosene will see a substantial rise of P36.00 per liter, broken down into P21.60, P10.80, and P3.60.
Petron has announced a total diesel increase of P19.20 per liter, with P11.60 on March 10, and P3.80 on both March 11 and 12. Gasoline prices will go up by P8.80 per liter, with P5.20 on March 10, and P1.80 on the following two days. Kerosene will increase by P32.00 per liter, with P19.00 on March 10, and P6.50 on March 11 and 12.
Other Companies Follow Suit with Varied Schedules
Total will raise diesel prices by P20.20 per liter, with P10.10 on both March 10 and 11. Gasoline will increase by P10.20 per liter, also with P5.10 on those two days. Chevron plans a more gradual approach, with diesel rising by P17.50 per liter from March 10 to 16, at P2.50 per day. Gasoline will go up by P7.00 per liter, at P1.00 per day, and kerosene by P38.50 per liter, at P5.50 per day.
Jetti has already started adjustments, with diesel increasing by P19.00 per liter: P4.00 on March 8, and P3.00 daily from March 9 to 13. Gasoline will rise by P9.00 per liter, with P2.00 on March 8, 10, and 11, and P1.00 on March 9, 12, and 13. Seaoil will implement hikes on March 10 and 11, with diesel increasing by P21.00 to P23.00 per liter, at P10.50 per day. Gasoline will go up by P11.00 to P13.00 per liter, at P5.50 to P6.50 per day, and kerosene by P33.00 to P35.00 per liter, at P16.50 to P17.50 per day.
Projected End-of-Week Fuel Prices
By the end of the week, consumers can expect the following price ranges at various gas stations. At Shell, diesel will cost between P84.75 and P87.44 per liter, gasoline from P60.85 to P69.15 per liter, and kerosene around P122.67 per liter. Petron stations will see diesel at P79.70 to P82.39 per liter, gasoline at P60.90 to P69.20 per liter, and kerosene at P118.67 per liter.
Total will have diesel priced at P80.70 to P83.39 per liter and gasoline at P62.30 to P70.60 per liter. Chevron's diesel will range from P78.00 to P80.69 per liter, gasoline from P59.10 to P67.40 per liter, and kerosene at P125.17 per liter. Jetti's diesel will be P79.50 to P82.19 per liter and gasoline P61.10 to P69.40 per liter. Seaoil will offer diesel at P81.50 to P86.19 per liter, gasoline at P63.10 to P69.90 per liter, and kerosene at P119.67 to P121.67 per liter.
This widespread price surge underscores the economic impact of geopolitical tensions in the Middle East, affecting not only diesel but also gasoline and kerosene prices across the Philippines.
