Fuel prices to increase for second week

Motorists can expect fuel prices to increase for the second consecutive week starting next week, with gasoline, diesel, and kerosene prices projected to rise by approximately P0.50 per liter.

The Department of Energy attributes this expected price hike to sustained OPEC oil demand growth forecasts and speculation that US tariff policies could slow global economic growth and energy demand.

Industry estimates suggest the price adjustment for diesel could range from P0.70 to P0.90 per liter, while gasoline might see an increase of P0.30 to P0.50 per liter.

An initial surge in oil prices was driven by fears of supply disruption from potential US sanctions on Russian oil, although these concerns were later eased.

Improved demand signals and expectations for better oil demand in the latter half of 2025 are also supporting the market, along with potential easing of trade tensions and supply risks in the Middle East.