MARCH 2, 2026 — Another week, another round of fuel price hikes. And this time, the surge is being fueled not just by market forces but by missiles flying across the Middle East. The joint assault by the United States and Israel on Iran has rattled global oil markets, and the Philippines — always at the mercy of imported fuel — is bracing for the fallout.

Industry insiders are already sounding the alarm. 

Jetti Petroleum president Leo Bellas warned, “The price increase may go higher than initial estimates as it can be influenced by the much larger freight and premium that will be used in the cost buildup.” 

Simply put, expect the pump prices to bite harder than the early projections of ₱1.40–₱1.60 per liter for gasoline, ₱0.80–₱1 for diesel, and about ₱0.90 for kerosene.

Since January, gasoline has already climbed ₱4.80 per liter, diesel ₱8.20, and kerosene ₱6.20. For jeepney drivers, delivery riders, and ordinary commuters, that’s not just a statistic — it’s a daily struggle. Every peso added to the pump translates to higher fares, pricier goods, and thinner wallets.

Senator Sherwin Gatchalian has urged economic managers to prepare for the worst, noting that the conflict could hit not just oil but food prices too. And he’s right — when fuel costs spike, everything else follows. From the palengke to the sari-sari store, the ripple effect is unavoidable.

The Philippines has no control over the geopolitical chessboard, yet we pay the price every time the pieces move. The question now is how much longer can we absorb these shocks?

(Image: Philippine News Agency)