Here’s Update on Oil Price Hike amid the Ongoing Middle East War
OIL PRICE HIKE UPDATE – Here is a list of the expected increases in the fuel prices of the different gas stations in the Philippines starting Tuesday, March 31, 2026.
The war in the Middle East has greatly affected several other countries with the unexpected jump of the oil costs. The conflict erupted after the United States and Israel attacked Iran that led to the deaths of several Iranians including their leader, Ayatollah Ali Khamenei.
The Iranians vowed to avenge the death of their fellows. United States Pres. Donald Trump who was one of those who decided to attack Iran claimed that he allegedly did it to prevent the country from allegedly destroying the world. The American Leader wanted to stop Iran from acquiring nuclear power.
The conflict in the Middle East resulted to soaring fuel costs in several other countries. Trump previously warned Iran not to disrupt the global oil flow as it might have to face a harder attack but it did not scare off the Iranians.
Tehran even closed the Strait of Hormuz for the vessels that are linked to the United States and Israel. The said waterway is vital for global oil shipments, thus, the supply of oil in several other countries are affected.
In the Philippines, a series of oil price hike has taken its toll amid the ongoing war in the Middle East. The pump prices have increased for at least thrice already and the series has brought the diesel to P140 per liter. However, the cost is expected to increase even more next week.
Based on a report on GMA News, several gasoline stations have already confirmed the increase in their pump prices starting Tuesday, March 31, 2026. This week’s oil price hike brings the following increases in fuel costs:
Seaoil Philippines Corp.
- Gasoline: No increase
- Diesel: + P12.50 per liter
- Kerosene: + P2.00 per liter
Shell Pilipinas Corp.
- Gasoline: + P2.90 per liter
- Diesel: + P12.90 per liter
- Kerosene: + P2.40 per liter
Petro Gazz
- Gasoline: + P2.50
- Diesel: + P12.50
Petron Corp.
- Gasoline: + P1.90 per liter
- Diesel: + P11.90 per liter
- Kerosene: + P1.40 per liter
Unioil Petroleum Philippines Corp.
- Gasoline: + P2.50 per liter
- Diesel: + P12.50 per liter
Updating…
Based on the report, the oil price hike will take effect at 6:00 a.m. on Tuesday, March 31, 2026, for all the gasoline stations cited above.
Previously, Petron owner Ramon Ang claimed that he is ready to sell the fuel company to the government amid the soaring pump prices in the Philippines now. Countless Filipinos most especially the Public Utility Vehicle (PUV) drivers and the daily commuters are affected by the series of oil price hike.
In the Philippines, Senator Loren Legarda previously expressed her disappointment over the sudden spike of the fuel costs in the country citing that the fuel then was bought at a regular price.
