Oil price hike looms for next week
Nation
Oil price hike looms for next week
by Alessandra C. Frianela28 March 2025
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Motorists should brace for a potential rise in fuel prices on the first day of April next week.
DOE-Oil Industry Management Bureau Assistant Director Rodela Romero stated that gasoline prices may increase by P0.85 to P1.35 per liter.
Moreover, diesel prices may see an increase of P0.75 to P1.25 per liter, while kerosene could go up by P0.95 to P1.10 per liter.
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The increase in prices is driven by the sanctions imposed by the United States on Iran, the attacks on energy installations in Russia and Ukraine, as well as the potential tariffs the U.S. may apply on countries importing oil from Venezuela.
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