Philippines Fuel Prices Soar, Petrol Predicted to Breach Rp 31,000

MANILA, KOMPAS.com - Philippine oil companies have implemented double-digit price increases for fuel products, including kerosene, effective on Tuesday (24/3/2026). According to Philstar, in separate announcements, UniOil and SeaOil will apply price adjustments for kerosene at 20.90 Philippine pesos per litre, or approximately Rp 5,925 (assuming an exchange rate of Rp 283.50 per peso), diesel at 16.80 Philippine pesos per litre or about Rp 4,762, and petrol at 9.70 Philippine pesos per litre or approximately Rp 2,749. Meanwhile, Petron will adjust prices by 10.50 Philippine pesos per litre for petrol or about Rp 2,976, 17.50 Philippine pesos per litre for diesel or Rp 4,961, and 21.50 Philippine pesos per litre for kerosene or Rp 6,095. Note that these price adjustments by UniOil, SeaOil, and Petron are effective from 6:00 a.m. local time. Philippine Energy Minister Sharon Garin stated that Caltex and Total oil companies will also implement gradual increases. Caltex will apply the hikes over five days, while Total will do so over two days. Consequently, petrol prices will range from 84.30 Philippine pesos to 110.10 Philippine pesos per litre, equivalent to approximately Rp 23,898 to Rp 31,213 per litre. Diesel prices will range from 108.80 to 133.10 Philippine pesos or about Rp 30,844 to Rp 37,733, and kerosene from 120.89 to 164.69 Philippine pesos per litre or approximately Rp 34,272 to Rp 46,689. On the other hand, while other oil companies are raising fuel prices, PetroGazz has instead implemented price reductions since last week. The government previously stated that the country’s supplies are sufficient to meet needs for at least 60 days while the conflict in the Middle East continues. To conserve the country’s dwindling supplies, the Philippine Department of Energy has permitted the import of Euro 2 petroleum products, which produce higher emissions than the Euro 4 standard available in the country.