Momentum from last week’s price increases are set to continue past the end of July and into the start of August as conflict in the Middle East continues. Though the Department of Energy skipped holding a press conference this morning to make way for President Ferdinand Marcos Jr.’s fifth State of the Nation Address, the following calculated price adjustments were still provided to the media.
For the period of July 28 to August 3, 2026, the price of diesel will go up by P7.32 per liter, while gasoline prices will increase by P6.80 per liter. Finally, kerosene will also have a price increase of P4.22 per liter.
The international market for oil saw another spike following Iran’s Houthi allies attacking tankers passing through the Red Sea. While Iran and the United States have temporarily paused their bombardments as of this morning, the broader ongoing war still has no definite conclusion in sight.
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The Philippines has now experienced five straight weeks of fuel price hikes starting from June 30. In total, diesel prices have risen by P26.64 per liter, gasoline prices have risen by P13.30 per liter, and kerosene prices have risen by P21.07 per liter.
The report compiled by the Chamber of Automotive Manufacturers of the Philippines and the Truck Manufacturers Association covering the Philippine auto industry’s performance in the first half of 2026 shows a clear shift in buyer preferences, with electrified vehicles growing significantly in market share. As the price of oil continue to soar while the war drags on, this trend continue through the end of the year.
