Filipino Motorists Face Another Oil Price Hike This September
FUEL PRICE UPDATE – The state weather bureau reported that another oil price hike is expected to take effect next week.
Filipino drivers and commuters will once again feel the pinch as fuel prices are expected to go up for the fourth week of September. If the trend continues, it will be the sixth straight week of higher pump prices for gasoline and the fifth for both diesel and kerosene.
Based on monitoring of international oil trading, gasoline could go up by about P0.70 per liter, diesel by P0.35 per liter, and kerosene by P0.65 per liter. While these are still estimates, the final adjustments will be confirmed after the week’s trading is completed.
Fuel companies usually announce official price changes on Monday, with implementation every Tuesday.
The increase is being linked to ongoing geopolitical conflicts that continue to disrupt the global energy market. Among the key factors are fresh sanctions by the United States on Russian oil, the European Union’s planned new round of sanctions, and Ukraine’s drone strikes on Russian energy facilities.
On top of that, instability in the Middle East is also pushing prices higher.
Local industry players warn that the upcoming hike could be even sharper. Some projections show gasoline may rise by up to P1.20 per liter, while diesel could increase by as much as P0.80 per liter.
Only last week, fuel prices already moved up, with gasoline climbing by ten centavos, diesel by fifty centavos, and kerosene by ten centavos per liter. With another round of increases looming, many Filipinos who rely on their vehicles for work and daily needs are bracing for heavier expenses.
This is a developing report, just visit this website regularly or refresh the page for further updates and information.
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