Anton Andres

In March of this year, the conflict in the Middle East between Iran and the US-Israel coalition resulted in the fourth oil shock in modern history. Pump prices for diesel tripled up to P155 per liter, resulting in a surge of demand for electrified vehicles like hybrids and battery electric vehicles. This is very similar to the first oil shock the world experienced in 1973, when a similar conflict in the Middle East forced carmakers at the time to come up with smaller, more fuel-efficient vehicles.

Ford Philippines is offering discounts and promos until the end of July. The Ford Freedom Fest campaign includes cash savings, 0% interest financing options, and all-in down payment plans across its range of vehicles. The Territory Hybrid can be had with an all-in down payment of P79,000 or cash savings of up to P40,000.

Hostilities have reignited in the Middle East, causing Iran to shut down the Strait of Hormuz once again and the United States to declare the ceasefire as “over.” As a result, the price of oil in the international market has skyrocketed anew, directly affecting this week’s pump prices. For the week of July 14 to July 20, 2026, gasoline prices will increase by up to P1 per liter, while diesel prices will go up by as much as P4.62 per liter.