Fuel Price Hikes Continue for Two Months, More Increases Expected Next Week

For two straight months, the Philippine oil market has been on an upward trend that is causing growing concern among citizens, as continuous fuel price hikes appear to be the only direction for now—dragging the prices of basic goods and services along with them. The situation is expected to persist next week, with experts anticipating yet another increase.

The reasons behind the continuing oil price surge remain largely unchanged. The primary factor is the ongoing tension between Iran and Western nations as they attempt to reach an agreement on the proposed nuclear deal, creating uncertainty in the global oil market.

Current estimates show that diesel and kerosene prices may rise by around ₱1.20 per liter, while gasoline could see a more modest increase of about ₱0.60 per liter. These figures are still subject to confirmation on Monday, when oil companies are expected to formally announce their adjustments, which are typically implemented the following day, Tuesday.