Pump prices are expected to increase again next week as tensions in the Middle East continue to impact global oil markets, an industry source said.
Estimated price adjustments per liter are projected at ₱16.50 to ₱17.50 for diesel and ₱7.50 to ₱8.50 for gasoline.
These follow significant increases earlier announced by the Department of Energy (DOE) for March 17 to 23, with diesel prices rising by ₱20.40 to ₱23.90 per liter, gasoline by ₱12.90 to ₱16.60 per liter, and kerosene by ₱6.90 to ₱8.90 per liter.
Based on DOE data for March 10 to 16, including the latest adjustments, prevailing retail prices in the National Capital Region now range from ₱91.35 to ₱114.90 per liter for diesel, ₱86.40 to ₱100.30 for gasoline, and ₱91.90 to ₱143.79 for kerosene.
Despite the anticipated price hikes, the DOE assured the public that fuel supply in the country remains sufficient. However, officials warned against hoarding, which could worsen the situation.
“What is unpredictable is the hoarding part. Kung mag-hoard ang isa, maaapektuhan ang iba, especially ang PUVs. We need to curtail hoarding and not cause more panic among our people,” said Energy Secretary Sharon Garin.
