Oil Prices Set to Rise Again Next Week — Diesel Up for the Eighth Straight Time

For the eighth time, diesel prices are expected to rise again next week, with an increase of up to Php 0.80 per liter. Gasoline prices are also expected to go up by Php 0.20 per liter, while kerosene may increase by Php 0.10 to 0.30 per liter.

Based on data from MOPS Singapore, the demand for diesel in the region continues to rise, which has influenced current fuel price forecasts. However, other factors behind the increasing oil prices in the country are still attributed to ongoing geopolitical tensions in other parts of the world and, of course, the state of the global market.

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