Philippine fuel prices are projected to increase next week after renewed attacks and military exchanges in the US-Iran conflict, which raise global oil prices. Several reports cite Jetti Energy/Jetti Petroleum president Leo Bellas, who says the latest developments in the Middle East rebuild geopolitical risk concerns that push crude prices higher. Bellas links the increase to supply worries and reduced vessel traffic around the Strait of Hormuz, a key shipping route for oil.
The outlets report that diesel is expected to rise by as much as about ₱10.50 per liter, based on price movements during the first four trading days of the week. Gasoline is also forecast to increase, with one report putting the likely range at roughly ₱3.50 to ₱4.50 per liter. Separate reporting notes that earlier price adjustments already show double-digit increases for diesel and kerosene, alongside a smaller but positive increase for gasoline.
Overall, the sources agree that the main driver is renewed geopolitical risk in the Middle East, which lifts global crude and leads to higher domestic pump prices.
