Another double-digit spike in oil prices setMANILA, Philippines — Another double-digit spike at the pump is looming next week amid the global oil crisis, threatening to push diesel above P100 per liter and gasoline close to the P90 mark. Energy Secretary Sharon Garin has said fuel prices are unlikely to drop anytime soon, given the uncertainties in the Middle East. Recto said alternatives are already being explored, per the President’s instructions, if the war in the affected region would further choke oil supply. She said any premature, excessive or unreasonable increase in fuel prices would not be tolerated and would be dealt with firmly. Based on the agency’s monitoring, jet fuel prices doubled from $90.87 per barrel last Feb. 19 to $188.2 per barrel on March 9.

Source: Philippine Star March 13, 2026 16:43 UTC