Over P1 per Liter Fuel Price Hike Expected Next Week After Big Rollback

MANILA, PHILIPPINES – Motorists should prepare for another round of fuel price increases next week, with both gasoline and diesel expected to go up by more than ₱1 per liter, according to forecasts from Jetti Petroleum.

The estimated pump price adjustments are:

• Diesel: ₱1.10 to ₱1.40 per liter increase

• Gasoline: ₱1.30 to ₱1.60 per liter increase

This follows a major price rollback earlier this week, where oil firms slashed pump prices by up to ₱3.60 per liter.

Jetti attributes the upcoming hike to global supply concerns, citing U.S. sanctions aimed at curbing Iranian oil exports, and OPEC’s move to cut production to correct overproduction. Additionally, the peak maintenance season for oil refineries is adding pressure to global supplies, even as trade tensions temper demand.

Official announcements from oil firms are expected Monday, with price changes taking effect on Tuesday, April 22.