Philippine Fuel Prices Jump Over P4 Per Litre, Exceed P100
The Department of Energy announced increases taking effect 15 September, pushing some Metro Manila gasoline and diesel costs past P100 per litre after two weeks of consecutive rises.
New Price Hikes Take Effect
The Philippines Department of Energy (DOE) confirmed a new round of significant fuel price increases, effective 6 a.m. on Tuesday, 15 September. Motorists will see pump prices climb by more than P4 per litre. This adjustment is expected to push the cost of some gasoline and diesel products in Metro Manila above P100 per litre, depending on the specific fuel station and location.
Consecutive Increases Drive Costs
This latest hike follows substantial increases last week, when gasoline prices rose by P4.69 per litre, diesel by P5.18, and kerosene by P5.58. Over the past two weeks, cumulative increases have reached P10.37 per litre for gasoline, P9.49 for diesel, and P10.20 for kerosene.
The DOE attributes these rising domestic pump prices to ongoing tensions in the Middle East, which continue to influence global oil markets.
Industry Calls for Tax Relief
In response to the escalating fuel costs, transport groups initiated a two-day strike on Monday, 14 September, and Tuesday, 15 September, demanding government intervention. Separately, the LPG Marketers Association submitted a written appeal to Energy Secretary Sharon Garin.
The association urged the Secretary to recommend a temporary suspension of excise taxes on liquefied petroleum gas (LPG) and other petroleum products.
Impact on Operating Costs
The sustained rise in fuel prices directly affects operating costs for businesses across the Philippines, particularly those in logistics, transport, and manufacturing. Higher diesel and gasoline expenses will likely translate into increased freight charges and production costs, potentially impacting consumer prices for goods and services.
Businesses relying on LPG for operations also face higher overheads, with the proposed tax suspension offering a potential, albeit temporary, relief from these pressures.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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