MOTORISTS should prepare for another round of steep pump price increases taking effect next week, driven by escalating tensions in the Middle East that continue to disrupt critical energy supply routes and drive up global petroleum costs. Based on Mean of Platts Singapore trading and foreign exchange trends over the past four days, industry estimates point to diesel rising by ₱10.00 to ₱10.50 per liter, while gasoline is projected to climb ₱4.50 to ₱5.00 per liter. Oil Industry Management Bureau Director Rino Abad confirmed these projections in a radio interview, noting gasoline will rise by roughly ₱5 per liter, diesel by around ₱10 per liter, and kerosene by approximately ₱7 per liter.
The surge follows intensified attacks on key shipping lanes and infrastructure across the Middle East. Hostilities in the Strait of Hormuz and the Red Sea — two of the world’s most vital oil transit corridors — have deepened fears of supply chain breakdown. Attacks also forced a shutdown of Saudi Arabia’s East‑West pipeline, a major alternative route for moving crude oil around the Strait of Hormuz, raising alarms over reduced export capacity from one of the world’s largest producers. Adding to the pressure, attacks on refineries in Russia, another top diesel supplier, have further tightened global product availability.
This week alone, fuel companies already raised prices by more than ₱5.60 per liter for gasoline, over ₱4.30 per liter for diesel, and upwards of ₱4.60 per liter for kerosene. Asian gasoline markets remain strong amid steady regional demand and persistent worries that Red Sea disruptions could cut into Middle Eastern exports. Fuel firms typically announce adjustments every Monday, with new rates taking effect the following day — meaning these projected hikes will hit consumers early next week.
metrosundaily
