DOE Says Another Oil Price Hike is Expected Next Week
FUEL PRICE UPDATE – Several gasoline stations in the country are expecting another oil price hike next week.
Filipino drivers may need to set aside a little more for fuel next week as pump prices are once again expected to rise. The Department of Energy (DOE) said that the upcoming adjustments will affect both gasoline and diesel, marking another week of consecutive increases.
Based on trading data from the international oil market, gasoline prices could go up by around P0.20 per liter, while diesel is expected to climb by about P0.50 per liter. Kerosene, on the other hand, is not expected to see any change.
If the adjustments push through, this will be the fifth straight week of price hikes for gasoline and the fourth for diesel.
Experts point to global events as the main driver of these increases. Recent airstrikes in Qatar and a drone incursion in Poland have fueled tensions in key oil-producing regions, adding pressure to already volatile prices.
Although OPEC+ has slightly raised production, the increase was slower than the market anticipated, which has done little to ease supply concerns.
Other international developments, such as new U.S. tariffs that are reshaping shipping costs, have also contributed to the upward movement of oil prices. These combined factors have kept global fuel costs elevated, leaving local pump prices no choice but to follow.
Motorists and public transport operators may soon feel the pinch, as higher fuel prices often lead to rising costs in goods and transportation. Officials encourage the public to plan ahead and conserve fuel whenever possible.
Oil companies are expected to release their official price changes on Monday, with the adjustments taking effect the following day.
This is a developing report, just visit this website regularly or refresh the page for further updates.
READ ALSO: Oil Price Hike to Take Effect on Tuesday (September 9, 2025)