Successive Oil Price Hikes Gas Out PSE Index

The Philippine Stock Exchange (PSE) index tumbled to an intraday low of 6,058.94 points, down by 54.64 points or 0.89%, as successive oil price hikes rattled investors.

The Philippine Stock Exchange (PSE) Index, March 13, 2026

With the government announcing another increase in oil prices next week—on top of four days of pump price hikes this week—investors dumped their shares.

The worsening economic outlook also triggered heavy foreign selling, with net foreign outflows reaching P3.6 billion.

Local investors likewise stayed on the sidelines, with total value turnover at P13.8 billion, including a P7-billion block sale of Asian Terminals shares following a tender offer.

Market breadth remained negative, with 108 losers, 68 gainers and 79 unchanged. The industrial sector was the lone gainer, led by Petron, which rose 3.86% to P3.50.

Market favorite ICTSI retreated by 1.44%, while market bellwether SM Investments declined by 1.39% to P637.

Investors will continue to monitor developments in the Iran conflict after Tehran vowed to make the United States regret the war, even as oil prices rise and President Donald Trump stressed that defeating Iran is more important than stabilizing crude prices.