Fuel price spike seen amid war on IranA worker transfers petroleum from a fuel tanker to a barge docked along the Pasig River in Manila yesterday. MANILA, Philippines — Domestic pump prices could surge beyond initial estimates this week amid escalating tensions in the Middle East following the joint assault by the United States and Israel on Iran, experts have warned. Diesel and kerosene prices have been rising since the last week of 2025, while gasoline has been climbing steadily since mid-January. This week, local industry sources initially estimated a potential per-liter price hike of P1.40 to P1.60 for gasoline, P0.80 to P1 for diesel and around P0.90 for kerosene. Since January, gasoline, diesel and kerosene prices have jumped by P4.80, P8.20 and P6.20 per liter, respectively.

Source: Philippine Star March 01, 2026 16:09 UTC