Motorists should brace for another round of fuel price increases next week amid renewed tensions in the Middle East.
An oil industry source said gasoline prices may rise by around P2 per liter, while diesel prices may increase by about P1 per liter.
The projection came hours after the United States launched an attack on Iran in response to an Iranian drone strike on a cargo ship in the Strait of Hormuz.
The expected price hike follows a major rollback recently implemented by oil companies, with diesel prices reduced by P11 per liter, gasoline by nearly P6 per liter, and kerosene by more than P11 per liter.
Final price adjustments are expected to be announced by oil companies before they take effect next week.