Oil prices in the Philippines are set to rise by as much as PHP1 per liter on Tuesday, continuing a trend of weekly increases driven by persistent supply concerns and geopolitical factors affecting global markets.
Price Adjustments Announced by Seaoil
In an advisory issued on Monday, Seaoil confirmed that effective 6 a.m. on February 10, 2026, the price of gasoline will increase by PHP0.60 per liter, diesel by PHP1 per liter, and kerosene by PHP0.60 per liter. This adjustment reflects ongoing volatility in the energy sector, with supply chain disruptions and international tensions contributing to higher costs.
Fifth Consecutive Weekly Increase in 2026
This marks the fifth consecutive week that fuel prices have jumped in the Philippines so far this year, all attributed to supply issues. The consistent hikes highlight the challenges faced by consumers and businesses amid fluctuating global oil markets.
Contrary to Earlier Projections
These price increases are contrary to earlier projections that suggested potential price cuts in the first quarter of 2026 due to oversupply forecasts. Instead, the reality has been a steady climb, underscoring the unpredictability of energy economics and the impact of external factors.
Comparison with Previous Week
Last week, gasoline prices rose by PHP0.80 per liter, diesel by PHP1.60 per liter, and kerosene by PHP1.10 per liter. While this week's hikes are slightly lower, the cumulative effect over multiple weeks has significantly increased fuel costs for Filipinos, affecting transportation and daily expenses.
The sustained rise in oil prices calls for close monitoring by stakeholders, as geopolitical issues overseas continue to influence supply chains and market dynamics in the Philippines.
