Motorists in the Philippines are bracing for higher fuel prices next week as global oil market movements push up wholesale benchmarks, according to industry analysts and local fuel price trackers. Based on recent trading in Asian markets, diesel prices are projected to increase by about ₱1.20 – ₱1.50 per liter while gasoline may go up by ₱0.20 – ₱0.50 per liter, reflecting sustained upward pressure from supply concerns and geopolitical risks abroad. These estimated adjustments usually take effect on Tuesday, as local oil companies update their pump prices weekly depending on global crude and refined product price fluctuations.
Pump Price Projections for Next Week
Industry sources project that diesel could see a notable increase of around ₱1.20 – ₱1.50 per liter next week, along with gasoline rising by about ₱0.20 – ₱0.50 per liter, based on recent Asian oil price movements and foreign exchange trends.
Global Factors Influencing Local Adjustments
Experts say international supply disruptions and ongoing geopolitical tensions are driving benchmark crude prices higher, which in turn affects domestic retail adjustments. Although estimates don’t yet include final costs and operational premiums, the trend indicates potential higher costs at the pump.
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