QUEZON CITY — Diesel prices could jump by more than ₱20 per liter next week, while gasoline may increase by over ₱11 per liter, as global oil prices surge due to the escalating conflict in the Middle East.
The looming spike has already forced some public utility vehicle (PUV) drivers to consider finding additional sources of income just to cope with rising expenses.
On Roosevelt Avenue, jeepney driver Jeffrey Pajarillo had been waiting for an hour by the roadside.
He said he used to make multiple trips daily but now hesitates to drive around for fear of wasting expensive fuel.
Earlier that morning, he bought diesel at ₱58 per liter. By noon, prices had already risen.
Diesel prices seen to rise by up to P23/L, gas by up to P13/L next week
“Ngayon P62 na po. Aagahan po yung biyahe at sa pila nalang aasa, yung iba tumatakbo nang walang laman, ngayon hindi na uubra.”
Worse, diesel prices are projected to climb to around ₱80 per liter in the coming days.
Pajarillo is considering taking side jobs in auto repair shops to earn additional income for his family.
“Siguro ma'am, tatanggap na lang ako ng gawa ng ibang sasakyan, halimbawa mga nagpapagawa ng sasakyan. Raraket ako dito sa mga kasamahan namin na may magpapagawa ng ibang sasakyan, mga kotse o halimbawa may mga jeep din, paextra extra nalang muna,” he said.
At a station along Quezon Avenue, diesel was selling at around ₱71 per liter, while turbo diesel reached ₱74 per liter. Gasoline was priced at about ₱61 per liter.
Meanwhile, along Araneta Avenue, diesel rose from ₱61.40 per liter to ₱62.40 in just a day, while power diesel climbed to ₱70.40 per liter.
Other stations also raised prices by ₱2 to ₱3 per liter compared to the previous day.
Ride-hailing driver Raul Simafranca said the increases are already straining his budget. Where he used to pay about ₱2,700 to fill his tank, he now spends more than ₱3,000. “Hindi na kaya. 3000 plus na [full tank] eh dati P2,700 lang.“
Tricycle driver Henry Enriquez has also stopped filling up his tank fully due to the higher costs.
“200 lang. Mahal na eh. Hindi na kaya. Dati puno to, mga 800. Wala magagawa eh.”
Motorists adjust fuel expenses as pump prices surge
President Ferdinand Marcos Jr. earlier said the government is coordinating with Congress to possibly grant him emergency powers that would allow the reduction of excise taxes on petroleum products if global oil prices reach $80 per barrel.
“Ilalabas natin sa lalong madaling panahon ang fuel subsidy at cash transfer para sa mga apektadong sektor. Makikipagtulungan ang mga ahensya ng pamahalaan at mga lokal na pamahalaan upang matiyak na makakarating agad ang tulong sa mga nangangailangan.”
The president also said a four-day workweek will be implemented for some government offices and that authorities will closely monitor prices of basic goods to prevent profiteering.
Vice President Sara Duterte likewise called on government agencies to take swift action and closely monitor potential hoarding and price manipulation.
“Sa mga ahensya ng gobyerno na may tungkuling dito, kumilos na kayo. Bumili muna sa lokal na produkto upang palakasin ang lokal na ekonomiya at mabawasan ang epekto ng pagtaas ng langis,” she said.
“Bawasan ang hindi kailangang paggamit ng enerhiya—tulad ng pag-carpooling, bisikleta, at pwedeng ayusin ang schedule ng lakad upang mabawasan ang madalas na pagbiyahe,” she added.
According to the Land Transportation Franchising and Regulatory Board (LTFRB), preparations are underway to process documents and other requirements for the distribution of fuel subsidies once the program receives the go-signal.
Oil prices surge on Middle East conflict
About ₱2.5 billion in assistance has been allocated for PUV drivers and operators. However, the transport group PISTON said fuel subsidies would only provide temporary relief.
PISTON national president Mody Floranda urged the government to immediately suspend fuel excise taxes and the value-added tax (VAT) on petroleum products.
“Ang kaagyat na mungkahi po natin is po natin ay sa immediate ay maglabas ng executive order ang Office of (the) President na i-suspinde ’yung implementation ng excise tax sa langis at sa VAT, ano?”
He also reiterated calls for a fare increase, saying drivers and operators are struggling to keep up with rising costs.
“Halos hindi na makaagapay ’yung ating mga drivers, mga operator. Maliit na lamang ’yung kanilang mga naiuuwi at halos hindi na sumasapat doon sa kanilang pangangailangan ng kanilang pamilya.”
The Department of Energy (DOE), for its part, said it will coordinate with local government units to ensure that oil companies do not take advantage of the situation or manipulate fuel prices.
DOE Secretary Sharon Garin also reminded the public that the next official oil price adjustment is scheduled for Tuesday.
“Mga kababayan, sa Tuesday pa oil price hike. Prices should not change until Tuesday kasi na increase na last Tuesday for this week. So no price increase today, tomorrow and Monday. Police are on high alert, pero tulong tulong tayo. There are 14,000 gas stations all over the country, please report any violation to your local enforcement agencies so the PNP can deploy their already strained resources,” she said in a Facebook post.
Sustained spike in oil prices not likely amid high global inventories, says Fitch Ratings
“Sinabi na ng Pangulo, no profiteering at no hoarding. Bawal yan,” she added.
The DOE urged the public to report suspected overpricing or hoarding through its hotline 8840-2267, or through its official social media pages.