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Philippine Fuel Prices Surge on July 21 as Middle East Tensions Spike; Diesel Up P10.68/L

2026-07-20 03:01:49

FUEL-1.66%

GAS-1.94%

According to Energy Secretary Sharon Garin, Philippine motorists will face steep fuel price increases starting July 21, with diesel rising P10.68 per liter, gasoline up P3.65 per liter, and kerosene increasing P11.77 per liter, as announced on July 20. The hike follows renewed hostilities in the Middle East, particularly around the Strait of Hormuz, after the U.S. launched fresh airstrikes against Iran. Disruptions to shipping traffic through the critical oil corridor between Iran and Oman directly impact refined fuel prices in the region, including the Mean of Platts Singapore (MOPS) benchmark that influences Philippine pump prices.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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