Filipino consumers are bracing for a significant hike in fuel prices next week, with the Department of Energy (DOE) forecasting increases across petroleum products. The projected adjustments, driven by global supply constraints, are expected to hit gasoline, diesel, and kerosene.
According to DOE, gasoline prices are set to rise by 0.80 to 1.40 per liter, diesel by 0.40 to 1.00 per liter, and kerosene by 0.50 to 0.70 per liter. “Final adjustments will be determined after today’s trading and oil companies inputs on their related costs,” said DOE Oil Industry Management Bureau Assistant Director Rodela Romero Romero. The announcement comes as global crude supply faces new challenges, pushing oil prices upward.
The primary catalysts for the price surge are fresh US sanctions on Iran’s oil shipping network, which have tightened global crude availability, and a sharper-than-expected decline in US crude inventories. These developments have sent ripples through the international oil market, directly impacting pump prices in the Philippines.
As the nation awaits the final adjustments, the looming increases are likely to strain commuters, transport operators, and small businesses reliant on fuel. The timing is particularly challenging, with inflation concerns already on the radar for many Filipinos.
How will these fuel price hikes affect your daily life or business? Share your thoughts and join the discussion on how the Philippines can navigate these global energy challenges.
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