In a continued trend affecting consumers and businesses, oil prices are set to rise for the seventh consecutive week, with adjustments scheduled to take effect on Tuesday, February 24, 2026. Major fuel companies, including Pilipinas Shell, Cleanfuel, PetroGazz, PTT, Caltex, and Seaoil, have issued advisories confirming the impending increases.
Specific Price Adjustments Announced
The announced changes include a P1.20 per liter increase for diesel and kerosene, while gasoline prices will see a P0.60 per liter hike. These adjustments are slated to begin at 6 a.m. and will apply onwards, impacting daily commuting and operational costs across various sectors.
Reasons Behind the Sustained Increases
According to the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), this latest price hike is driven by a combination of factors. Geopolitical tensions in key oil-producing regions have contributed to supply uncertainties, while shifts in inventory levels and changing market sentiment have further influenced global oil prices. Additionally, expectations around future supply and demand dynamics play a significant role in these ongoing adjustments.
The consecutive weeks of price increases highlight broader challenges in the energy market, with potential implications for inflation and economic stability. As fuel costs rise, consumers may face higher expenses for transportation and goods, prompting concerns about affordability and budget management.
