Fuel prices may climb further past P100 next week

MANILA, Philippines — Motorists may face another round of steep fuel price increases next week, with gasoline seen rising by more than P4 per liter and diesel and kerosene by at least P2, according to the Department of Energy.

The projected increases could push premium gasoline, diesel and kerosene further above P100 per liter at some Metro Manila stations by Tuesday, September 15, after similarly large adjustments took effect this week.

DOE Oil Industry Management Bureau Director Rino Abad said Friday that trading so far pointed to another increase across all three petroleum products.

"Asahan natin na may increase pa rin next week. Ang diesel and kerosene, medyo maliit na, halos kalahati no'ng last week. Itong gasolina ay may kataasan pa rin, halos kapareho pa rin ng range nung last week," Abad told DZMM.

("Let's expect another increase next week. For diesel and kerosene, it is relatively smaller, almost half of last week's level. Gasoline remains on the higher side, almost within the same range as last week.")

Based on prevailing Metro Manila pump prices after the September 8 adjustment, another increase of around P4 could push the highest gasoline prices to roughly P106 per liter.

Premium diesel, which already sells for more than P100 per liter at some stations, could rise to around P104, while kerosene could reach roughly P103 to P138 per liter depending on the station.

The estimates remain preliminary. Oil companies typically announce final adjustments on Monday after accounting for the full week's movements in international fuel prices and the peso-dollar exchange rate.

On Tuesday, gasoline prices rose by P4.69 per liter, diesel by P5.18 and kerosene by P5.58.

Abad said escalating tensions around the Red Sea are adding another risk to oil markets already been strained by disruptions around the Strait of Hormuz.

Iran-backed Houthi forces this week seized the strategic Yemeni port city of Mokha near the Bab el-Mandeb Strait, raising concerns over shipping through a major route connecting the Red Sea to the Gulf of Aden and, farther north, the Suez Canal.

The Bab el-Mandeb is an important passage for energy shipments and other trade between Asia, the Middle East and Europe. Its strategic importance has grown as traffic through the Strait of Hormuz has faced disruptions amid the conflict involving Iran and the United States.

"Ito ho 'yung sinasabi namin na posible pang magdagdag doon sa nangyayari pa sa Strait of Hormuz," Abad said.

("This is what we have been saying could add another factor on top of what is already happening in the Strait of Hormuz.")

The Houthi advance has heightened concerns that disruptions could spread to another major maritime chokepoint. Reuters reported Friday that Brent crude had climbed to nearly $110 a barrel after surging about 6% in the previous session amid worries over supply routes in both Hormuz and the Red Sea.

abtestabtest Del Monte posts strong Q1 results, mulls asset sale By Richmond Mercurio | 14 hours ago Singapore and Philippine-listed Del Monte Pacific Ltd. expects to sustain profitability in fiscal year 2027, after earnings... Business Ber-na By Marrianne V. Go | 14 hours ago It seems that Bangko Sentral ng Pilipinas Deputy Governor Berna Romulo-Puyat has seeped into the Filipino psyche (or perhaps... Business Spain, EU join Luzon Economic Corridor By Louella Desiderio | 14 hours ago The Luzon Economic Corridor initiative has welcomed the European Union  and Spain as its newest partners. Business PPA OKs P1.75 billion funding for new port, infrastructure upgrades By Elijah Felice Rosales | 14 hours ago The Philippine Ports Authority has alloted P1.75 billion for the upgrade of two terminals in Luzon and Mindanao and the construction... Business ACS Manufacturing goes green with ACEN By Brix Lelis | 14 hours ago  Soap and toothpaste maker ACS Manufacturing Corp., is powering its operations with clean energy through ACEN Corp.... Business Latest More in Business GCash IPO gets SEC green light Foreign investments down 18% in 6 months US agency to upgrade airport screening at NAIA Index slips below 6,100 on rising oil prices abtest What’s the real score? By Boo Chanco | 14 hours ago Our government is telling us that the economy is not that bad, pointing out that international credit rating agencies have... Business RCBC doubles Billease credit line to P1 billion By Keisha Ta-Asan | 14 hours ago Rizal Commercial Banking Corp.  has doubled its credit line to Billease to P1 billion, expanding local bank funding for... Business Megawide invests P3 billion in Cavite precast plant By Richmond Mercurio | 14 hours ago Engineering and infrastructure company Megawide Construction Corp. is investing P3 billion to develop a new precast facility... Business Ex-transport chief Bautista joins Atlas Mining board By Adrian Kenneth Halili | 14 hours ago Atlas Consolidated Mining and Development Corp. has added former transportation secretary Jaime Bautista to its board of directors... Business Recommended Panganiban, Davide, Azcuna invited as amici curiae 14 hours ago The Senate impeachment court has invited two retired chief justices and a retired associate justice as amici curiae or judiciary... BusinessCARPIOPANGANIBANSARA SC parries criticisms, cites improved caseload 14 hours ago  The Supreme Court yesterday presented its proposed P86.271-billion budget for next year at a Senate budget hearing,... BusinessSC Duterte’s perjury case vs Madriaga junked 14 hours ago The Taguig prosecutor’s office has dismissed the perjury case filed by Vice President Sara Duterte against her former... BusinessPOGORAMIL MADRIAGA 15 bank accounts of Sara, Mans match AMLC records 1 day ago   The House prosecution panel’s initial scrutiny of the bank accounts of Vice President Sara Duterte and her husband... BusinessALCDUTERTEMANS Some senators want SC to decide on impeach vote threshold 1 day ago Senators JV Ejercito and Raffy Tulfo want the Supreme Court to decide on the voting threshold to convict or acquit Vice President... BusinessEJERCITOGATCHALIANSENATE next Recommended Panganiban, Davide, Azcuna invited as amici curiae The Senate impeachment court has invited two retired chief justices and a retired associate justice as amici curiae or judiciary resource persons to share their insights on the voting threshold in Vice President Sara Duterte’s trial. 14 hours ago CARPIO PANGANIBAN SARA SC parries criticisms, cites improved caseload  The Supreme Court yesterday presented its proposed P86.271-billion budget for next year at a Senate budget hearing, and assured senators of improving caseload in the judiciary. 14 hours ago SC Duterte’s perjury case vs Madriaga junked The Taguig prosecutor’s office has dismissed the perjury case filed by Vice President Sara Duterte against her former aide, Ramil Madriaga, for “lack of prima facie evidence with reasonable certainty of conviction.” 14 hours ago POGO RAMIL MADRIAGA 15 bank accounts of Sara, Mans match AMLC records   The House prosecution panel’s initial scrutiny of the bank accounts of Vice President Sara Duterte and her husband Manases Carpio yielded positive results as 15 of them “matched” the details presented by the Anti-Money Laundering Council. 1 day ago ALC DUTERTE MANS Some senators want SC to decide on impeach vote threshold Senators JV Ejercito and Raffy Tulfo want the Supreme Court to decide on the voting threshold to convict or acquit Vice President Sara Duterte amid a possible deadlock due to the continued absence of four senators. 1 day ago EJERCITO GATCHALIAN SENATE OK Are you sure you want to log out? Yes No X Login Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!