Big-time fuel price hike seen next week — source

Motorists should brace for another round of hefty pump price hikes for diesel and gasoline as the Philippine peso continues its decline while persistent instability in the Middle East impedes on global oil supply and production.

According to an industry source, projected pump prices for the week of September 14 may reach:

• Diesel: +4.00 to +4.50 per liter
• Gasoline: +5.50 to +6.00 per liter

The forecast is based on the full week tracking of the Mean of Platts Singapore (MOPS) on refined oil products, forex averages, and other factors.

Consumers were already reeling from increases this week of up to P4.70 per liter of gasoline, up to P5.20 per liter of diesel, and as much as P5.60 per liter of kerosene.

The source said "prices surged further" due to escalating attacks against shipping and energy infrastructure, which posed risks to oil transport already hit by the ongoing conflict between the United States and Iran.

Based on data from the Department of Energy (DOE) for the current week, the total net increase of fuel for 2026 already stood at:

• Gasoline: P59.32 per liter
• Diesel: P60.46 per liter
• Kerosene: P53.45 per liter

The fresh forecast comes after aerial attacks struck Saudi Arabia's East-West pipeline, prompting the country to shut down its vital oil conduit amid the widening Middle East war.

The Philippine peso, meanwhile, suffered on Friday its 24th record low of the year, closing at P62.68 against the US dollar. Movements in global oil prices and ongoing geopolitical concerns were cited as factors in the peso's weak performance. — VDV, GMA News