PHILIPPINE consumers are bracing for another round of fuel price increases, expected to take effect next week. The Department of Energy’s Oil Industry Management Bureau Assistant Director, Rodela Romero, projects gasoline prices will rise by ₱0.35 to ₱0.70 per liter, while diesel prices are anticipated to increase by ₱1.10 to ₱1.40 per liter. Kerosene prices are also expected to climb by ₱0.90 to ₱1.00 per liter.
Romero attributed the projected increases to four days of trading under Market Operator Performance Standards, citing a stronger US dollar and a decrease in US crude oil stocks as key contributing factors. She noted that final price adjustments will depend on today’s MOPS trading and the operational costs of oil companies.
In a separate interview, Romero highlighted the ongoing conflict in the Middle East and production cuts by several oil-producing nations as additional factors driving up fuel costs. These cuts, she explained, have been extended to April 2025.
Oil companies typically announce official price adjustments every Monday, with the changes taking effect the following day.
metrosundaily
