By Samantha Yu
MANILA, Philippines — Fuel prices in the Philippines could climb anew next week, with early indications pointing to increases of as much as P2.25 per liter for diesel and P1.50 per liter for gasoline.
The preliminary estimates were based on four trading days of MOPS monitoring ahead of the scheduled price adjustment on Aug. 25.
Diesel is currently projected to rise by P1.75 to P2.25 per liter, while gasoline may increase by P1 to P1.50 per liter.
The figures remain subject to change because the final trading day has yet to be factored into the computation. A decline in international prices during the remaining trading period could still reduce the projected hike or even trigger a price rollback.
According to Jetti Petroleum president Leo Bellas, international markets are reacting to renewed uncertainty following the expiration of the US-Iran interim agreement in June without a wider peace arrangement.
The prospect of a prolonged confrontation between the two countries has added pressure to oil prices, while disruptions affecting Russian crude shipments in the Black Sea are creating another supply risk.
Market watchers are also keeping an eye on the Middle East because of questions over the availability of alternative crude supplies.
The IEA said in its latest oil market assessment that global demand is expected to lose strength during the second half of 2026. The agency attributed part of the pressure to disruptions in global supply chains caused by the continued closure of the Strait of Hormuz.
The IEA expects worldwide oil demand to decline by 1.6 million barrels per day on average this year.
Meanwhile, government data showed that the Philippines had enough fuel stocks to cover an average of 58.34 days of supply as of Aug. 14.
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