Double-digit price hikes coming up for diesel, kerosene — DOE chief

MANILA, Philippines — Oil firms are set to implement another round of price hikes this week, with diesel and kerosene expected to post double-digit increases.

In an interview on dzMM on Monday, March 23, Energy Secretary Sharon Garin said diesel prices may increase by P11.88 per liter, while kerosene may rise by P13.66 per liter.

Gasoline prices are also expected to go up by P6.47 per liter.

Oil companies typically announce adjustments on Mondays, with changes taking effect on Tuesdays.

Garin said the Department of Energy has asked companies to stagger the increases where possible.

Last week, gasoline prices rose by P12.90 to P16.60 per liter, while diesel prices increased by P20.40 to P23.90 per liter.

The announcement came following United States President Donald Trump's 48-hour ultimatum on Iran over its continued blockage of the Strait of Hormuz, a major waterway for the world's oil supply. The bottleneck has nearly halted all petroleum shipments, sending oil prices soaring.

Selective rollback. Despite the expected hikes, PetroGazz implemented a P5-per-liter rollback at selected stations nationwide.

The rollback took effect at 6 a.m. on Monday and applies to nine stations in Luzon, 28 in the Visayas and 13 in Mindanao.

The company has been implementing rollbacks since March 20, even as other oil firms raised prices.