Double-digit pump price hike set Tuesday, March 10, 2026

Motorists will have to tighten their belts anew, as retailers plan another big-time pump price hike starting Tuesday to mark the ninth straight week of increases for gasoline, and the 11th for both diesel and kerosene amid the ongoing conflict in the Middle East.

According to data released by the Department of Energy (DOE), retailers are set to increase prices per liter of gasoline by P7.00 to P13.00, diesel by P17.50 to P24.25, and kerosene by P32.00 to P38.50.

Below is the list of the scheduled pump price hikes for the week:

Energy Secretary Sharon Garin explained that the prices reflect replacement costs, and takes in the average prices of the previous week, which are then assumed as the cost of buying new stock.

“It’s the replacement cost. Unang una, kahit na dumating na dito yan, ang presyo niyan, hindi yan yung price nung date of delivery so mag-uusap pa ‘yan sila kung anong presyo, may agreement sila,” she said in a virtual briefing.

“It’s not when nila kinuha, when nila binili, or when nila na-receive kundi kung ano, magkano ‘yung replacement. Imagine now if we still stay with the price two weeks ago, wala silang perang pambili ng bagong stock. So that’s the practice but if it goes down also, talo din sila pero kung umakyat, talo tayo,” she added.

(It’s the replacement cost. Firstly, even if that arrived here already, the price is not the price during the date of delivery. They will have to talk about the price, they will have an agreement.

It’s not when they got the stock, when they bought, or when they received, but instead how much is the replacement. Imagine now if we still stay with the price two weeks ago, they will not have funds to purchase new stock. So that’s the practice, but if it goes down also, they lose, but if it goes up, we lose.)

This comes as the Strait of Hormuz, a key global shipping corridor located between Iran and Oman, has been closed off amid the ongoing conflict among the United States, Israel, and Iran. It is considered the world’s most vital oil export route, connecting the biggest Gulf oil producers with the Gulf of Oman and the Arabian Sea.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected a minimum increase of P9.00 per liter for gasoline, P19.00 per liter for diesel, and P31.00 per liter for kerosene this week due to continuing concerns over the Middle East conflict.

The DOE, which said it will appeal to firms the stagger the implementation of hikes starting this week, earlier said pump prices from March 6 to March 9 should not exceed the following ranges:

• Gasoline (RON 97/100) at P53.70 to P76.50 per liter
• Gasoline (RON 95) at P50.00 to P71.04 per liter
• Gasoline (RON 91) at P49.00 to P64.70 per liter
• Diesel at P49.00 to P66.59 per liter
• Diesel Plus at P56.80 to P74.81 per liter
• Kerosene at P78.90 to P99.89 per liter

The DOE said it is working with the Department of the Interior and Local Government (DILG) and the Philippine National Police (PNP) to intensify monitoring against possible hoarding and profiteering in the sale of petroleum products, after it received initial reports and evidence indicating potential irregularities in Luzon and Mindanao.

Pump prices already increased by P1.90 per liter for gasoline, P1.20 per liter for diesel, and P1.50 per liter for kerosene on Tuesday, March 3, 2026.

The government is set to provide fuel subsidies for public transport operators, farmers, and fisherfolk, and offer free bus rides to mitigate the impact of the higher prices.

President Ferdinand “Bongbong” Marcos Jr. also earlier said he is considering temporarily reducing or suspending excise taxes on fuel to cushion the impact of rising prices. The DOF has yet to release estimates on the possible foregone revenues.

US President Donald Trump over the weekend said he is not interested in negotiating with Iran, and said the conflict would only end once the country no longer has a functioning military or any remaining leadership in power, as reported by Reuters.

Tensions in the Middle East heightened as US-Israeli airstrikes killed Iranian Supreme Leader Ayatollah Ali Khamenei, which American President Donald Trump celebrated. The death was later confirmed by Iranian state media.

Trump earlier said that combat operations in Iran would continue until all objectives are achieved, as he confirmed that three US service members were killed and there would likely be more casualties.—AOL/BM, GMA Integrated News