Hostilities have reignited in the Middle East, causing Iran to shut down the Strait of Hormuz once again and the United States to declare the ceasefire as “over.” As a result, the price of oil in the international market has skyrocketed anew, directly affecting this week’s pump prices.
For the week of July 14 to July 20, 2026, gasoline prices will increase by up to P1 per liter, while diesel prices will go up by as much as P4.62 per liter. Kerosene, too, will have a price hike of up to P4.22 per liter.
As of writing, no oil companies have published their final price movements yet. Shell has reportedly advised its franchises that it use the maximum price hikes for gasoline and diesel, although its kerosene hike will be on the lower side (up by P2.30 per liter).
OTHER STORIES YOU MIGHT HAVE MISSED:
Why replacing your car with an EV may or may not be a good idea
What my dad would have felt about EVs
Secretary Sharon Garin of the Department of Energy has confirmed that if market volatility extends into next week, the agency will return to dictating fixed amounts for price movements instead of setting ranges. Although Garin has clarified that this change is not directly related to motorists’ complaints about oil players opting for minimal rollbacks and maximum price hikes, she acknowledges these concerns and agrees that returning to fixed adjustments will better protect consumers.
Garin previously stated that “the worst [was] over” prior to the conflict reigniting in the Middle East. The local automotive industry has also already begun steadily reintroducing its events, such as the second leg of Toyota’s GR Philippine Cup; it remains to be seen whether another round of disruptions is on the way for brands planning events.
On the other hand, a volatile fuel market could further reinforce the position of electrified mobility options. As seen in the Chamber of Automotive Manufacturers of the Philippines’ (CAMPI) latest sales report from May, a clear preference for xEVs (HEVs, PHEVs, BEVs) is steadily growing—a trend that could continue into June and even July.
