6 hours ago
2
Brix Lelis - The Philippine Star
March 22, 2025 | 12:00am
This photo shows a pump from a gasoline station.
Edd Gumban / File
MANILA, Philippines — Following recent rollbacks, fuel prices are expected to increase in the coming week due to escalating conflicts in the Middle East.
The Department of Energy has indicated a potential per liter price hike of P0.60 to P1 for gasoline, P0.10 to P0.50 for diesel and P0.10 to P0.30 for kerosene.
The estimates reflect the trading results in the global oil market over the past four days.
Oil Industry Management Bureau assistant director Rodela Romero linked the estimated adjustments to rising tensions in the Middle East following US airstrikes on Yemen’s Houthi rebels.
The recent attacks, according to reports, killed at least 53 people, including children, and injured nearly 100 more, with the campaign likely to continue indefinitely.
Other factors contributing to the expected price increase include China’s issuance of a fiscal stimulus plan to boost consumption and US government data showing a draw in fuel inventories, Romero said.
Yesterday’s trading would determine the final price adjustments, which will be announced on Monday and will take effect the following day.
Last Tuesday, oil companies rolled back diesel and kerosene prices by P0.20 and P0.40 per liter, respectively, while gasoline prices remained unchanged.
