Diesel price may possibly reach up to P90/L in March — DOE

The Department of Energy (DOE) on Friday projected that the price of diesel may exceed eighty pesos per liter this month if there are no staggered price adjustments amid rising tensions in the Middle East.

DOE Oil Management Bureau Director Rino Abad floated the possibility during a hearing of the Senate committee on foreign relations, noting that the conflict between the United States and Iran is much worse than that of Russia and Ukraine.

“‘Yung Ukraine-Russia, Mr. Chair, umabot tayo ng mga 90 (peso per liter) kasi. So, ayaw kong mag-project. Pero, ito'y mas masama pa do’n eh. Kasi dito, Middle East ang pinag-usapan,” Abad said.

(We reached P90 per liter during the height of the Ukraine-Russia conflict. I don’t want to project, but this is much worse because we’re talking about the Middle East.)

The DOE official made the remark when Senator Erwin Tulfo, chairman of the committee, asked about the effects of the Middle East conflict on the price of petroleum products.

“So, ibig sabihin, sir, ‘pag hindi po tumigil itong bakbakan na ito, maaari talaga at malaki ang posibilidad that within this month, tayo po ay Marso 6 pa lamang po ngayon, within this month, aabot itong buwan ng P90 per liter ang ating diesel at ang gasolina, ay maybe nasa P80 (per liter) na po? Kung tuloy tuloy po ito” Tulfo said.

(So, that means that if this fighting doesn't stop, there could really be a big possibility that within this month, it's only March 6 now, within this month, our diesel will reach P90 per liter and gasoline will be at P80 per liter? That’s if this continues further.)

Abad said that such is possible for diesel if the oil price increase will not be on a staggered basis.

“Kung magi-implement ng staggered, hindi masyado abot kaagad. Pero kung one time bagsakan, pwede ‘yun umabot na po… To be safe, mga above 80 [pesos per liter] po,” Abad said.

(If it is implemented on a staggered basis, it won't immediately increase that much. But if it increases one time, it is possible... To be safe, we can say it will exceed P80 per liter.)

Based on the first three days of trading this week, oil industry sources expect prices per liter of gasoline to be hiked by P7.09, and diesel by P15.33.

Pump prices were 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. — BAP, GMA Integrated News