MOTORISTS and transport operators are bracing for another round of significant fuel price hikes this week, as industry estimates indicate substantial increases for both diesel and gasoline.
Based on oil price watch data, diesel prices could jump by P17 to P19 per liter starting Tuesday, while gasoline prices are expected to rise by P3 to P5 per liter.
These projected increases are considerably higher than those observed last week, when diesel prices saw an increment of P4.50 to P12.90 per liter, and gasoline prices went up by P1 to P2.90 per liter.
In some scenarios, diesel prices could potentially reach as high as P170 per liter. This looming price surge is expected to place an additional burden on drivers and transport operators, particularly as many return from the Holy Week break.
Despite assurances from Iran regarding the safe passage of oil shipments through the Strait of Hormuz, global oil prices remain volatile due to the ongoing tensions in the Middle East.
The impact is most acutely felt by diesel consumers, including bus, truck, and jeepney operators, as well as maritime vessels and boats that rely on fuel for their daily operations. The continued instability in the global oil market signals a challenging period ahead for the transportation sector and the broader economy.
metrosundaily
