The Department of Energy (DOE) on Friday, February 13, projected higher fuel prices next week based on the four-day Mean of Platts Singapore (MOPS) trading.
Estimated per-liter adjustments are as follows:
- Gasoline: +₱0.95
- Diesel: +₱0.10
- Kerosene: +₱0.25
DOE-Oil Industry Management Bureau Assistant Director Rodela Romero said final price movements will be confirmed after Friday’s MOPS trading, taking into account operational costs and applicable premiums.
She pointed to geopolitical tensions involving Iran—including potential supply disruptions in the Strait of Hormuz and uncertainties surrounding its nuclear program—as major factors influencing global oil prices.
Reports of possible U.S. interception of Iranian oil tankers also contributed to market caution.
“Together, these factors created a week of cautious but slightly rising crude prices,” Romero said.
Oil firms typically announce official price adjustments every Monday, with changes taking effect the following Tuesday.
The DOE’s outlook reflects ongoing global volatility, with domestic pump prices expected to inch up amid supply concerns and geopolitical risks.