MANILA, Philippines — Philippine motorists are facing another round of fuel price increases in the first week of February, with diesel set for its sixth straight week of upward adjustments.
According to a Friday advisory from Jetti Petroleum, the following price hikes are expected to take effect on Tuesday, February 3, 2026:
Diesel: Projected increase of P1.30 to P1.50 per liter.
Gasoline: Projected increase of P0.50 to P0.70 per liter, marking its fourth consecutive weekly hike.
Global Supply Pressures Jetti Petroleum president Leo Bellas identified several international factors driving the local price surge:
Geopolitical Instability: Continued tensions in the Middle East are heightening supply fears among global traders.
Kazakhstan Outage: A major disruption at Kazakhstan’s largest oilfield has further tightened the global supply chain.
EU Import Ban: The European Union’s ban on refined products derived from Russian-origin crude is expected to disrupt flows and tighten the physical market for middle distillates like diesel.
US Policy Influence: Recent rhetoric regarding sanctions on major oil producers has contributed to market volatility, pushing crude prices higher.
Impact on Consumers The sustained streak of price increases is expected to put further pressure on transport costs and the prices of basic commodities. Energy officials continue to monitor international price movements as the Department of Energy (DOE) prepares its final weekly price bulletin.
Motorists are advised to fill up before the anticipated price changes take effect on Tuesday morning.