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Brix Lelis - The Philippine Star
February 22, 2025 | 12:00am
This photo shows a pump from a gasoline station.
Edd Gumban / File
MANILA, Philippines — Fuel prices are likely to see mixed adjustments next week, driven by rising concerns over potential supply disruptions.
After four days of global oil trading, the Department of Energy said gasoline prices are estimated to increase by P0.40 to P0.70 per liter, while diesel costs could either drop by P0.10 or rise by P0.20 per liter.
Kerosene prices, meanwhile, are expected to either remain unchanged or go up by P0.10 per liter.
“The threat of possible supply disruption on the international oil market is the major reason for next week’s estimated pump price adjustments,” Oil Industry Management Bureau assistant director Rodela Romero said.
In particular, Romero said a recent Ukrainian drone attack on a Russian pumping station caused supply disruptions in Kazakhstan.
Russian authorities claimed the attack reduced oil flows through the Caspian Pipeline Consortium, a major route for oil exports, by as much as 40 percent.
According to Romero, G7 countries also proposed tightening the oil price cap on Russia in an effort to pressure the country to negotiate a peace agreement with Ukraine.
Also contributing to domestic pump movements were reports that OPEC+ was considering further delaying output hikes, Romero noted.
Friday’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 hiked prices of gasoline and diesel by P0.80 per liter and kerosene by P0.10 per liter.
