Philippines Fuel Prices Set to Rise Amid Global Market Volatility and Peso Weakness

Fuel prices in the Philippines are expected to rise again due to international oil market volatility and the weakening peso.

The industry source estimates that gasoline will increase by P5.50 to P6.00 per liter, while diesel may rise by P4.00 to P4.50 per liter, starting from September 14.

This projection considers movements in the Mean of Platts Singapore (MOPS), the peso-dollar exchange rate, and other market factors.

The expected hikes come as attacks on shipping routes and energy facilities continue to threaten the global oil supply, leading to increased uncertainty in the energy market.