MANILA, Philippines — Fuel prices are expected to increase again next week due mostly to the US’ latest sanctions against Iran and the decline in US crude inventories.
Local oil industry sources said that gasoline prices may increase between P0.80 and P1.40 per liter, diesel between P0.40 and P1.00 per liter and kerosene between P0.50 to P0.70 per liter.
These estimates are based on the 4-day trading of Mean of Platts (MOPS), Singapore, the pricing basis of refined goods in Southeast Asia.
DOE-OIMB Director Rodela Romero and Jetti Petroleum president Leo Bella projected the increase ” due to the fresh US sanctions on Iran’s oil shipping network, which in turn could tighten global crude supply; and a sharper-than-expected decline in US crude inventories,”
Local oil companies, last week, increased gasoline prices by P1.35 per liter, diesel by P1.30 per liter, and kerosene by P1.10 per liter.
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https://www.manilatimes.net/2025/04/25/news/another-round-of-fuel-price-increases-seen-next-week/2099224
