Diesel rising to P100/liter

LTFRB to announce PUV fare hike today

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The price adjustments will take effect on Tuesday once oil companies and fuel retailers implement the new rates.

Garin said that if diesel currently costs around P90 per liter in a particular gas station, the price could rise to approximately P110 to P113.90 per liter after the adjustment.

Because of the steep increase, some oil companies have agreed to stagger their diesel price adjustments to reduce the immediate impact on consumers.

"So far, only Total, Shell, Seaoil, Petron, and Flying V have committed to the staggering," Garin said.

The DOE said these companies will implement gradual increases rather than a onetime price adjustment to help ease the burden on consumers, particularly public utility vehicle (PUV) drivers and transport operators.

"We have to commend those oil companies that offer lower prices, stagger their adjustments, and still provide bigger discounts," Garin said.

Garin explained that the government cannot directly control retail fuel prices under the Downstream Oil Industry Deregulation Act of 1998, which allows petroleum products to be priced based on market conditions.

"On supply, we have control. On power, we have control. But the price of fuel is something the government cannot fully control because we are heavily dependent on imported oil," Garin said.