Oil Price Hike Set on Tuesday (August 18, 2026), DOE Says
FUEL PRICE UPDATE – The Department of Energy is expecting an oil price hike starting next week after weeks of rollback.
Starting Tuesday (August 18, 2026), Filipino Motorists may need to prepare for another increase in fuel prices as global oil costs continue to move upward due to supply concerns and ongoing tensions in key oil-producing regions.
Industry estimates indicate that the recent series of fuel rollbacks could soon come to an end. Based on the latest market monitoring, diesel prices could rise by around P3.75 to P4.25 per liter, while gasoline prices may increase by P2.50 to P3.00 per liter.
Earlier trading data also suggested possible increases of up to P4.88 per liter for diesel, P2.99 per liter for gasoline, and P5.20 per liter for kerosene, although final adjustments may still change before oil companies announce their official price movements on Monday.
Supply issues are also adding pressure to prices. Global fuel inventories have continued to decline, while refinery disruptions in several regions have limited the amount of fuel reaching the market.
Reduced exports from major suppliers have further tightened available supplies, especially for diesel, which has seen stronger price increases than gasoline in recent weeks.
Despite the upward trend, analysts said there are still factors that could prevent prices from rising even further. Slower demand growth in some parts of the world and increasing crude oil inventories in the United States may help ease market pressure in the coming weeks.
Last week, motorists enjoyed huge fuel price rollbacks, but current market conditions suggest that higher pump prices are likely on the horizon once again. Drivers and transport operators are now waiting for the official announcement from oil companies before the new adjustments take effect on Tuesday.
This is a developing report, just visit this website regularly or refresh the page for further updates.
