MANILA — Filipino motorists should brace for another round of significant fuel price increases next week, with diesel potentially breaching the P170 per liter mark while gasoline approaches P120 per liter, based on latest market projections.
Steep Diesel Hikes on the Horizon
MOPS Data Signals Large Adjustments
Industry sources monitoring Mean of Platts Singapore (MOPS) trading from March 30 to April 2 indicate that retail diesel prices could surge by P17 to P19 per liter. These projections could push regular diesel to as much as P165 per liter, while premium diesel varieties may surpass the P170 threshold.
Tightening Supply Drives Surge
"Diesel supply continues to tighten as demand remains high, pushing the prices of middle distillates much higher relative to gasoline," the industry source explained. The diesel market has been under sustained pressure due to robust demand across industrial, agricultural, and transport sectors.
Gasoline Prices Also Climbing
Moderate but Significant Increases
Gasoline users are not exempt from the upcoming adjustment. Projections show gasoline prices could increase by P3 to P5 per liter. If realized, the price increases would bring super premium gasoline to approximately P120 per liter, premium variants to around P117 per liter, and regular gasoline near the P110 per liter mark.
Disparity in Price Movements
Unlike diesel's sharp climb, gasoline prices have seen a comparatively moderate trajectory in recent adjustments. The difference in pricing dynamics between the two fuel types reflects divergent supply-demand conditions in the global market.
Year-to-Date Fuel Price Impact
Cumulative Increases Pile Up
According to the latest data from the Department of Energy, the 13th price adjustment for the entire year has resulted in staggering cumulative increases. Gasoline users have absorbed a P48.20 per liter net increase, while diesel consumers face a P90.05 per liter jump since January.
Kerosene Also Affected
Kerosene, commonly used in households and certain industries, has recorded a net increase of P78.10 per liter year-to-date. These sustained price hikes have intensified calls for government intervention and relief measures.
Industry Forecasts Vary
Other Estimates Offer Some Relief
Other industry players have provided more conservative estimates. Jetti Petroleum projects diesel to increase by only 40 to 60 centavos per liter, with gasoline rising by P1 to P1.20 per liter. Unioil has also issued separate forecasts that diverge from the MOPS-based projections.
Volatility Persists
The variation in forecasts underscores the continued volatility in global oil markets. Motorists are advised to monitor official announcements from oil companies and the Department of Energy for confirmed price adjustments, which typically take effect every Tuesday.
