Fuel Prices Set to Increase Next Week Amid Global Tensions

The Department of Energy (DOE) has forecasted an increase in fuel prices next week due to rising Middle East tensions and intensified US sanctions on Iran and Russia.

Estimated Price Adjustments:

• Gasoline: +₱0.45 to ₱0.75 per liter
• Diesel: +₱0.30 to ₱0.60 per liter
• Kerosene: +₱0.15 to ₱0.30 per liter

The final adjustments will be determined after the last trading day this week, with oil companies officially announcing new pump prices on Monday, effective Tuesday.

This comes after a slight rollback earlier this week, where gasoline, diesel, and kerosene prices dropped by ₱0.10 to ₱0.30 per liter.