P16.50 diesel price hike, P7.50 for gasoline seen next week

Pump prices are expected to spike further next week, amid the ongoing crisis brought by Middle East tensions.

According to an industry source, the estimated adjustments in fuel prices per liter for next week are the following:

Diesel - P16.50 to P17.50 per liter
Gasoline - P7.50 to P8.50 per liter

The Department of Energy (DOE) previously announced the following fuel price adjustments for March 17 to March 23 week:

Diesel - P20.40 to P23.90 per liter
Gasoline - P12.90 to P16.60 per liter
Kerosene - P6.90 to P8.90 per liter

Prevailing retail prices of petroleum products in the National Capital Region, based on the Department of Energy’s data for March 10 to 16 plus this week’s adjustments, are as follows:

Diesel - P91.35 to P114.9 per liter
Gasoline - P86.4 to P100.3 per liter
Kerosene - P91.9 to P143.79 per liter

Despite the spike in prices, the DOE assured the public that the country has a sufficient fuel supply but warned against hoarding.

“What is unpredictable is the hoarding part. Kung mag-hoard ang isa, maapektuhan ang iba, especially ang PUVs (If one will hoard, everybody will be affected especially the PUVs). We need to curtail hoarding and not cause more panic among our people,” Energy Secretary Sharon Garin said. —VAL, GMA Integrated News