MOTORISTS should prepare for a substantial increase in pump prices next week, coming just after a period of downward adjustments.
Industry projections based on the Mean of Platts Singapore (MOPS) and foreign exchange averages over the past five days indicate that diesel could rise by ₱4.00 to ₱4.50 per liter, while gasoline prices may climb by ₱2.50 to ₱3.00 per liter. The expected jump marks a sharp reversal from the recent rollback, signaling renewed upward pressure on fuel costs across the country.
The surge in diesel prices is driven primarily by persistent supply constraints that continue to outweigh improvements in the availability of replacement barrels. Despite some easing in regional supply balances due to increased outflows from India and China, global benchmarks for gasoline have also been lifted by renewed hostilities in the Middle East. Geopolitical tensions in the oil‑rich region remain a key factor supporting higher international rates, which are directly reflected in domestic pump prices.
The projected price hike will have wide‑ranging impacts on commuters, transport operators, and businesses, potentially contributing to higher costs for goods and services. With supply limitations and geopolitical unrest showing no immediate signs of abating, fuel prices may remain elevated in the coming weeks. Consumers are advised to plan accordingly, as the full official adjustment will be confirmed and announced by the Department of Energy early next week.
metrosundaily
