Brace Yourselves: Fuel Prices Going Up Again Next Week — 10th Straight Week of Hikes

Prepare your wallets, mga kababayan — fuel prices are set to climb again next week, marking the 10th consecutive week of increases as the Middle East war continues to wreak havoc on global oil supply. But there's a tiny silver lining: the hikes are expected to be smaller than last week's brutal increases.

According to industry sources cited by The Manila Times, diesel prices are projected to rise by about ₱14 to ₱14.50 per liter next week. That's still painful, but it's a step down from last week's jaw-dropping ₱20.40 to ₱23.90 per liter increase. Gasoline, meanwhile, is expected to go up by ₱7 to ₱7.50, compared to the previous week's ₱12.90 to ₱16.60 hike.

The estimates are based on the 4-day trading of Mean of Platts Singapore (MOPS), which serves as the pricing benchmark for refined petroleum products across Southeast Asia. The ongoing conflict in the Middle East continues to disrupt supply chains and drive costs up worldwide.

The fuel crisis has already prompted massive protests across the country and forced the government to act. President Marcos recently ordered the release of ₱21.47 billion in emergency funds to cushion Filipinos from the impact, while the peso has crashed past the ₱60-per-dollar mark for the first time ever as markets reel from the geopolitical turmoil.

Ten straight weeks of fuel price hikes. Diesel alone has gone up by over ₱100 per liter in total since the crisis began. For jeepney drivers, tricycle operators, and everyday commuters — the pain is real. Analysts warn that BSP may even be forced to reverse its easing cycle and raise interest rates as early as April to contain inflation. Mahirap talaga ang sitwasyon ngayon. 😞

Source: The Manila Times