Fuel prices are projected to rise sharply again next week as global tensions in the Middle East continue to disrupt markets.
An industry insider estimates that diesel could increase by around P16.50 to P17.50 per liter, while gasoline prices may go up by P7.50 to P8.50 per liter.
This follows the recent adjustments announced by the Department of Energy for March 17 to 23, where diesel prices rose by P20.40 to P23.90 per liter, gasoline by P12.90 to P16.60 per liter, and kerosene by P6.90 to P8.90 per liter.
Despite these continued hikes, the DOE reassured the public that fuel supply remains stable. However, officials expressed concern over possible hoarding, warning that panic buying could disrupt distribution and disproportionately affect public utility vehicle operators. Energy Secretary Sharon Garin emphasized the need to prevent hoarding to avoid worsening the situation for consumers.
