Pump prices of petroleum products are expected to increase next week, according to industry estimates.
An oil industry source said diesel prices may rise by ₱1.00 to ₱2.00 per liter, while gasoline could increase by ₱2.00 to ₱3.00 per liter, based on recent Mean of Platts Singapore trading and foreign exchange data.
The Department of Energy said the anticipated hike is partly driven by the continued weakening of the Philippine peso against the US dollar.
Energy Secretary Sharon Garin noted early trends in global oil trading that point to upward price adjustments.
Fuel companies adjust prices weekly, typically announcing changes every Monday for implementation the following day.
Despite recent rollbacks in diesel and kerosene, year-to-date data show significant net increases in fuel prices, reflecting continued volatility in global energy markets.
