Filipino motorists face yet another round of pump price increases this coming Tuesday, underscoring the ongoing volatility of domestic fuel costs driven by compounding international crises. According to Jetti Petroleum president Leo Bellas, gasoline prices are projected to rise between P1 and P1.50 per liter, while diesel prices could jump by P1.75 to P2.25 per liter. This upcoming price hike follows the previous week’s substantial surge of P2.49 per liter for gasoline, P3.84 for diesel, and P5.01 for kerosene, highlighting how rapidly fuel rates are creeping higher almost every single week.
The persistent week-to-week price shifts directly affect daily consumer budgets and transport expenses, reflecting a massive shift in local fuel affordability over recent months. Before geopolitical tensions escalated in the Middle East, National Capital Region pump prices averaged P53 per liter for gasoline, P60.79 for diesel, and P84.67 for kerosene. Recent figures demonstrate a steep climb to P74.80 for gasoline, P90.30 for diesel, and P116.50 for kerosene, illustrating the severe, cumulative burden these frequent price adjustments place on daily living costs.
Global supply constraints and foreign exchange shifts remain the primary catalysts behind the unending weekly rate increases. Bellas noted that five full days of international market trading, alongside a weakening Philippine peso, heavily influenced this week’s upward adjustments. Persistent supply tightness continues to pressure the diesel market due to disruptions in the Strait of Hormuz and Russia’s ongoing export ban. Simultaneously, the Asian gasoline market remains elevated due to multi-year low regional inventories linked to the Middle East conflict, ensuring that local consumers will continue to feel the pressure at the pump for the foreseeable future.
