MANILA, Philippines — Motorists are once again bracing for heavier expenses as local oil industry sources warned that gasoline and diesel prices are expected to go up next week.
Based on current estimates, gasoline may increase by ₱0.40 to ₱0.60 per liter, while diesel could see a bigger jump of ₱0.80 to ₱1.00 per liter.
These forecasts are drawn from four days of trading data from the Mean of Platts Singapore (MOPS), the main pricing standard for refined fuel in Southeast Asia.
What’s driving the price hike?
According to local industry insiders, several global developments are fueling the increase:
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Rising tensions between Russia and Ukraine, with intensified attacks targeting energy facilities.
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New U.S. tariffs on India, which may disrupt trade flows.
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Signals from the U.S. Federal Reserve hinting at a possible interest rate cut.
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A sharp drop in U.S. crude and fuel inventories, tightening global supply.
The impact at home
The looming hike follows this week’s adjustment, when oil companies raised gasoline by ₱0.70 per liter and diesel by ₱0.50 per liter.
For Filipino drivers and commuters, these back-to-back increases mean higher transportation costs and added pressure on daily budgets—a burden many households are already struggling with.
The big question now: Will global tensions keep pushing fuel prices even higher in the weeks to come?
