Fuel Prices May Surge Next Week: Gasoline Could Jump by Up to 6 Pesos a Liter

Filipino motorists could be in for a painful fuel price shock next week, with gasoline prices potentially jumping by as much as 6 Pesos per liter, while diesel and kerosene could increase by up to ₱5 per liter.

The latest movement in the Mean of Platts Singapore (MOPS), one of the key references used for fuel price adjustments in the Philippines, points to a major increase in local pump prices next week. If the current estimates hold, the upcoming adjustment could become one of the biggest fuel price hikes in recent months.

Gasoline is expected to take the biggest hit, with a possible increase of up to ₱6 per liter. Diesel and kerosene, meanwhile, could see increases of as much as ₱5 per liter. The potential hikes are being attributed primarily to the continued volatility in global oil markets amid ongoing conflicts and tensions in the Middle East.

For now, the figures remain estimates and could still change before the official announcement. The Department of Energy (DOE) is expected to release the final price adjustments on Monday, with oil companies likely to implement the new prices at their respective stations beginning Tuesday.

If the projected increases are confirmed, motorists should prepare for significantly higher fuel expenses next week. The impact could also extend beyond the pump, as higher fuel costs may put additional pressure on transportation fares, delivery costs, and the prices of goods and services.