Philippine fuel prices hit record highs as food inflation fears grow

South China Morning PostCenter-RightEN 1 min read 100% complete by Sam BeltranMarch 21, 2026 at 06:30 AM

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Philippine fuel prices, particularly diesel, have reached record highs due to limited domestic refining capacity and the impact of global crude market fluctuations. As of this week, diesel prices exceeded 100 pesos per liter in Metro Manila, a significant portion of the minimum daily wage. This surge is forcing transport workers to make difficult choices between fuel and basic necessities. Some petrol stations are struggling to display the increased prices due to limitations in their digital systems. The situation highlights the Philippines' vulnerability to global market changes and raises concerns about potential food inflation.

Key Entities & Roles

Key Player Opposition Context

Iran 40% Quezon City 50% Carlo Asuncion 50% Union Bank of the Philippines 50% Department of Energy 60% Metro Manila 60% Mario Orain ×270% Philippines ×390%

Keywords

fuel prices 100% diesel prices 90% philippines 80% inflation 70% transport workers 60% food inflation 60% domestic refining capacity 50% record highs 50% metro manila 40%