Another Big Oil Price Hike Expected Next Week; Diesel May Rise by Nearly 10 Pesos per liter

Filipino motorists are bracing for another round of oil price increases next week, with diesel prices potentially rising by nearly 10 Pesos a liter, according to the latest estimates by various news agencies.

Based on the first four trading days of the week, initial estimates point to a 9.50 Pesos per liter increase for diesel, 4.50 Pesos for gasoline, and 7.40 Pesos for kerosene. The projected adjustments are based on movements in the Mean of Platts Singapore (MOPS) prices and the peso-dollar exchange rate. However, these figures are still estimates and may change before oil companies announce their final adjustments.

The continued increase in global fuel prices has been linked to supply concerns arising from the ongoing conflict and tensions in the Middle East. Shutdown of Saudi Arabia’s Petroline oil pipeline was also among the factors affecting the market, with the assessment of damage expected to take several weeks.

The projected increase would come just after another major round of local price hikes implemented this week. The Department of Energy said prices from September 15 to 21 increased by 5.68 Pesos per liter for gasoline, 4.31 Pesos for diesel and 4.62 Pesos for kerosene.

Oil companies are expected to announce their final price adjustments on Monday, with the new prices typically taking effect the following day. Until the official announcements are made, motorists should treat the current figures as projections rather than final pump-price increases.