Following a significant rollback earlier this week, drivers should prepare for an increase of more than one peso per liter in fuel costs next week.
For the week concluding on April 17, Jetti Petroleum provided their fuel price outlook predicting these potential changes at the pumps in the coming days:
- Diesel — ₱1.10 to ₱1.40 per liter
- Gasoline — ₱1.30 to ₱1.60 per liter
“Despite the increased global economic uncertainties caused by trade disputes which persistently dampen demand, prices have surged due to worries regarding global supply levels. This follows U.S. pressures on Iran concerning its nuclear activities and subsequent imposition of fresh sanctions aimed at reducing Iranian oil exports,” Jetti stated.
“Moreover, concerns over supplies are exacerbated by the OPEC strategy where multiple oil-producing member countries intend to reduce production to offset the excess pumping beyond their agreed limits, along with the current peak maintenance period at refineries,” the report stated.
Other petroleum companies have not yet declared their pricing changes for the following week.
Oil companies declare their official price changes each Monday, effective from Tuesday onwards.
Starting from Tuesday, April 15, the oil firms will be affected.
slashed
The cost per liter for gasoline has been increased by P3.60, for diesel by P2.90, and for kerosene by P3.30.
— RSJ, GMA Network News
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More than PHP 1 per liter increase expected for both gasoline and diesel prices next week
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