Diesel up ₱3.84/L, gasoline up ₱2.49/L: Two-week rollback streak comes to end

Fuel prices in the Philippines are set to rise this week, ending a two-week streak of rollbacks as geopolitical friction and regional supply constraints put pressure on the local market. Effective Tuesday, Aug. 18, domestic oil companies will increase diesel by ₱3.84 per liter and gasoline by ₱2.49 per liter. Kerosene will face the steepest jump, up ₱5.01 per liter. The changes follow maximum caps set by the Department of Energy for retailers. Diesel and gasoline are both at 55.26 days of supply, which the DOE considers healthy, while kerosene is around 164 days and LPG about 40.22. Energy Secretary Sharon Garin cited slower U.S.-Iran diplomatic efforts affecting Mean of Platts Singapore and foreign exchange rates, with Energy Undersecretary Alessandro Sales noting refined diesel at about $160 per barrel.