Philippines energy national emergency

Unfortunately our car requires diesel. I saw prices as high as 129-139p already for regular diesel (up from 54p before the sh*t started), and warnings for a further rise with 19p early next week. So no, not doomsday, at least not for us, but oil companies raking in the billions.
Prices for diesel in Europe have also gone up, but only by about 35%, rather than the crazy increase here (150% increase)

 

we are being ripped off
View attachment upload_2026-4-10_7-46-26.jpeg

 

Yes and no. I know their is gouging going on, but it's not a simple as a gallon of oil goes up/down 1% so a gallon of diesel goes up/down 1 %. The cost to refine diesel has gone up separate from the cost of oil. The US EPA regulations and EURO regulations have increased the cleanliness of the fuel multiple times over the time span in you picture, which adds cost each time. The best example is the reductions in sulfur PPM allowed. The sulfur in diesel has important lubricating properties, similar to what lead did for gasoline. The removed lubricating properties have to be replaced which adds cost to refinement. Replacing fuel pumps and injectors capable of 2000bar is awful expensive. Labor rates for refinery workers, fuel truck drivers, driver dispatchers, fuel pump attendants ETC all have increased as well. Here is a thought, if labor pay raises due to inflation caused by the increase of oil prices and then oil prices went down, shouldn't labor pay decrease as well.

 

I just read this in the news,
WASHINGTON – President Donald Trump on Sunday ordered a US naval blockade of the Strait of Hormuz in response to Iran’s “unyielding” refusal to give up its nuclear ambitions during peace talks in Islamabad.
Am i missing something ?

 

you might be missing out on the opportunity to do a little insider trading.

 

I mostly saw around 117 to 120 for diesel yesterday - there is supposed to be a big price cut tomorrow (21st) but I am not sure is they will re-set that due to events in Iran over the last 2 days. We are still running on diesel we bought at Php60! But not for much longer.

 

We have all noticed the trend online for monetising everything but I didn't expect the US Presidency to do the same!