PRICE HIKE. Fuel prices are projected to rise further next week due to the ongoing clashes between the U.S. and Iran. Citing price developments as of Thursday (July 16, 2026), Jetti Energy president Leo Bellas, in a message to journalists Friday (July 17) said diesel prices will likely increase by PHP9.50 to PHP10.50 per liter and gasoline between PHP3.50 to PHP4.50 per liter. (PNA photo by Avito Dalan)
MANILA – Motorists face a heavy blow next week, with local fuel prices projected to climb by up to ₱10.50 per liter due to fresh Middle East conflicts.
Jetti Energy President Leo Bellas informed reporters on Friday that, based on the week’s first four trading days, diesel prices could jump by ₱9.50 to ₱10.50 per liter, while gasoline could rise by ₱3.50 to ₱4.50 per liter.
Fuel price hike
Crude prices have been on the rise anew and Bellas said this was “mainly supported by an elevated geopolitical risk premium, which rebuilt after Iranian attacks on commercial ships attempting to transit the Strait of Hormuz outside the Iranian-approved route, and the retaliatory strikes by the US on Iranian military assets.”
