Additional increases in petroleum product prices are expected next week amid continuing tensions in the Middle East.
Gasoline prices are projected to rise by around ₱7.50 to ₱8.50 per liter.
Meanwhile, diesel prices are expected to see a double-digit hike, ranging from ₱16.50 to ₱17.50 per liter.
The anticipated adjustments come as global oil markets remain volatile due to geopolitical developments in the Middle East.
Despite this, the Department of Energy assured the public that the country maintains a sufficient oil supply.
Energy Secretary Sharon Garin warned, however, that hoarding could worsen the situation and disrupt distribution, particularly affecting public utility vehicles (PUVs).
“What is unpredictable is the hoarding part. Kung mag-hoard ang isa, maapektuhan ang iba, especially ang PUVs. We need to curtail hoarding and not cause more panic among our people,” she said.