Diesel Prices Seen to Jump by Up to 2 Pesos per Liter Next Week

A significant increase in fuel prices is expected next week, with diesel seen to post the biggest adjustment. Market estimates indicate that diesel prices could rise by as much as 2.00 Pesos per liter. Gasoline prices are also projected to increase by around 1.00 Peso per liter, while kerosene may go up by approximately 1.30 to 1.50 Pesos per liter.

According to market analysts, the anticipated price hike is largely driven by ongoing geopolitical tensions in Europe and parts of the Middle East, which continue to disrupt global oil supply and trading conditions. These external pressures are further compounded by the continued depreciation of the Philippine peso, which has persisted since the end of last year.

A weaker local currency increases the cost of imported commodities, including petroleum products, making domestic fuel prices more vulnerable to global market fluctuations.

Oil companies are expected to announce their final price adjustments on Monday, with the new prices set to take effect on Tuesday.

Motorists are advised to consider refueling ahead of the scheduled adjustment to avoid the expected increase.