Motorists may face another round of pump price hikes next week, with diesel and gasoline costs projected to increase due to ongoing tensions in the Middle East, according to local oil industry sources.
Initial industry estimates indicate that diesel prices could go up by P1.75 to P2.25 per liter, while gasoline may see an increase of P1.00 to P1.50 per liter.
The projections are based on the first four trading days of the Mean of Platts Singapore (MOPS), the benchmark used for refined petroleum products in Southeast Asia. If implemented, this will mark the second consecutive week of fuel price increases.
In the latest price adjustments implemented by the Department of Energy (DOE), diesel jumped by P3.84 per liter, while gasoline rose by 2.49 per liter.
Final price adjustments for next week will depend on Friday’s remaining trading results. Oil companies are expected to officially announce their price movements on Monday, following the DOE’s monitoring of global market trends.