Diesel shock to hit P144/L this week

Fuel prices are set to rise sharply this week, with gasoline, diesel, and kerosene all posting sharp increases as a result of the lingering geopolitical conflict in the oil-rich Middle East.

At a media briefing, Energy Secretary Sharon S. Garin said diesel prices, the fuel type widely used by the public transportation sector, post a steep increase of around P15 to P18.00 per liter starting Tuesday.

Pump prices reach between P107 and P134.30 per liter, while diesel plus ranges from P114.99 and to a high of P144.20 per liter.

Meanwhile, gasoline prices climb by P8.00 to P12.00 per liter across all grades. 

RON97 ranges from P87.69 to P112.40 per liter, while RON95 settles between P83.10 and P109.78. RON91 is at around P82.60 to P102.50 per liter.

Gasoline grades are classified using the RON (Research Octane Number), which measures a fuel’s resistance to engine knocking. 

RON91 is considered the standard grade used by most vehicles and is typically the cheapest option, while RON97 is a higher-octane fuel designed for high-performance engines that require greater resistance to premature combustion.

Kerosene price increase, on the other hand, also ranges from P12 to P22.00 per liter. Resulting pump prices are estimated between P111.99 and P165.79 per liter.

“The increase is still attributed to the events in the Middle East, but the smaller increase compared to the P20 last two weeks is because there has been a slowdown in the increase on the per barrel price in the international market,” Garin said. 

“Our primary responsibility of us is on the supply side. Supply is still sufficient. It has not arrived at an alarming level because our regulations require 15 days, pero so far, hindi po tayo bumababa ng 15 days. We are still at a very comfortable level,” she added. 

Current national inventories average 45 days.

By product, the figures show ample supply: gasoline at 53.14 days, diesel at 45.82 days, kerosene at 97.93 days, jet fuel at 38.62 days, fuel oil at 61.49 days, and LPG at 23.51 days.

“We are closely monitoring our companies so far, no one is at an alarming state yet,” Garin said.