Motorists should brace for another round of fuel price hikes next week as global supply concerns continue to drive costs upward.
Based on Mean of Platts Singapore (MOPS) trading from March 30 to April 2, an oil industry source said retail diesel prices could rise by ₱17 to ₱19 per liter. This would push regular diesel prices to as high as ₱165 per liter, while premium diesel could exceed ₱170.
Gasoline prices are also projected to increase by ₱3 to ₱5 per liter, potentially bringing super premium to around ₱120, premium to ₱117, and regular gasoline to ₱110 per liter.
“Diesel supply continues to tighten as demand remains high, pushing the prices of middle distillates much higher relative to gasoline,” the source explained.
“Renewed fears of prolonged supply disruptions have pushed prices to all-time highs. Any serious talks with Iran could de-escalate the tensions and bring some relief to prices. However, until the Strait of Hormuz is reopened, supply will remain tight and prices supported.”
According to Department of Energy (DOE) monitoring, fuel retailers already implemented price adjustments between March 31 and April 6, with diesel increasing by ₱14 per liter, gasoline by ₱2.90, and kerosene by ₱2.50.
DOE data showed that these latest adjustments—the 13th for the year—have resulted in cumulative net increases of ₱48.20 per liter for gasoline, ₱90.05 per liter for diesel, and ₱78.10 per liter for kerosene.