Fuel prices expected to increase next week

Fuel prices are projected to increase next week, ending a three-week streak of rollbacks, with estimated per-liter hikes of P1.00 to P1.20 for gasoline, P0.30 to P0.50 for diesel, and P0.20 to P0.40 for kerosene.

These anticipated adjustments are attributed to escalating geopolitical tensions, including US airstrikes on Yemen's Houthi rebels and Israel's expansion of ground operations across Gaza, alongside China's new fiscal stimulus measures which may increase oil demand.

A decrease in oil inventories from the United States is also affecting pump prices.

The final price adjustments will be announced on Monday and take effect on Tuesday, determined by Friday's international trading results.

For the past three weeks, total rollbacks were P1.90/L for diesel, P2.60/L for gasoline, and P3.60/L for kerosene.