MANILA — Consumers will once again feel the impact of rising global oil prices after fuel companies announced another round of pump price increases set to take effect on Tuesday, driven by escalating geopolitical tensions in the Middle East.
According to the Department of Energy (DOE), diesel will experience the largest increase among petroleum products at ₱10.68 per liter, while gasoline prices will climb by up to ₱3.65 per liter. Kerosene users will see an even steeper adjustment of ₱11.77 per liter.
DOE Secretary Sharon Garin said the price movements mirror developments in the international oil market, where renewed conflict in the Middle East has pushed crude prices higher and affected fuel-importing economies around the world.
She noted that the Philippines has little choice but to reflect international market trends because it depends heavily on imported petroleum products.
While acknowledging the burden on motorists and transport operators, Garin emphasized that the country’s fuel reserves remain adequate, with available stocks estimated to last for about 46 days.
The DOE said it continues to monitor global oil market conditions and remains prepared to respond to any potential supply disruptions while ensuring that local fuel inventories remain sufficient.
elamigo/xf
