We are heading into another week of oil price hikes. Unlike the previous weeks, the upcoming increase is expected to be higher.
Estimated price adjustments:
- Diesel: Php 1.20 – 1.40 per liter increase
- Gasoline: Php 0.90 – 1.00 per liter increase
- Kerosene: Php 0.60 – 0.80 per liter increase
Geopolitical tensions between Russia and Ukraine are seen as one of the major drivers of this market volatility. In addition, the rumored oil sanctions on Iran have raised concerns in the international market, fueling fears of a potential supply-and-demand imbalance in fuel products.
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