The Department of Energy (DOE) has projected an increase in fuel prices again in the coming week.

Based on DOE - Oil Industry Management Bureau estimates, prices are expected to rise as follows on Tuesday, February 18:

Gasoline - ₱0.45 - ₱0.75 more per liter
Diesel - ₱0.30 - ₱0.60 more per liter
Kerosene - ₱0.15 - ₱0.30 more per liter

The market believes oil supply may be impacted by sanctions levied by the US against Iran and Russia, as well as escalating tensions in the Middle East.