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Sunday, Apr 05, 2026
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Philippines Faces Significant Fuel Price Increases Next Week
Department of Energy projects gas, diesel, and kerosene price hikes amid global market fluctuations.
Motorists in the Philippines are anticipating substantial fuel price increases in the upcoming week, with projections indicating that the cost per liter could rise by P0.90 to P1.40 for gasoline, P1 to P1.40 for diesel, and P1 to P1.20 for kerosene.
The Department of Energy (DOE) based this forecast on four days of trading in the global oil market.
Rodela Romero, assistant director of the DOE’s Oil Industry Management Bureau, indicated that the rise in global oil prices has been influenced by renewed optimism regarding a potential trade agreement between the United States and China.
Additionally, the Organization of the Petroleum Exporting Countries (OPEC) anticipates a robust demand for oil over the next 25 years, contributing to the upward pressure on prices.
Market dynamics have also been impacted by ongoing diplomatic challenges, particularly regarding nuclear negotiations between the US and Iran, which have created uncertainty in the oil supply chain.
Industry experts noted that declining crude inventories in the US have compounded the situation, while escalating geopolitical tensions, especially in the Middle East following recent military actions, have contributed to rising crude prices, with a noted increase of five percent attributed to these concerns.
The final adjustments to fuel prices will be determined by yesterday’s trading activities and will be publicly announced on Monday, with changes set to take effect the following day.
This follows an earlier price increase implemented last Tuesday, when oil firms raised pump prices by P0.60 per liter for gasoline, P0.95 for diesel, and P0.30 for kerosene.
The Department of Energy (DOE) based this forecast on four days of trading in the global oil market.
Rodela Romero, assistant director of the DOE’s Oil Industry Management Bureau, indicated that the rise in global oil prices has been influenced by renewed optimism regarding a potential trade agreement between the United States and China.
Additionally, the Organization of the Petroleum Exporting Countries (OPEC) anticipates a robust demand for oil over the next 25 years, contributing to the upward pressure on prices.
Market dynamics have also been impacted by ongoing diplomatic challenges, particularly regarding nuclear negotiations between the US and Iran, which have created uncertainty in the oil supply chain.
Industry experts noted that declining crude inventories in the US have compounded the situation, while escalating geopolitical tensions, especially in the Middle East following recent military actions, have contributed to rising crude prices, with a noted increase of five percent attributed to these concerns.
The final adjustments to fuel prices will be determined by yesterday’s trading activities and will be publicly announced on Monday, with changes set to take effect the following day.
This follows an earlier price increase implemented last Tuesday, when oil firms raised pump prices by P0.60 per liter for gasoline, P0.95 for diesel, and P0.30 for kerosene.
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