Fuel Prices Expected to Increase Next Week

Fuel Prices Expected to Increase Next Week

After a huge rollback lasts week, fuel prices are expected to increase again next week according to the industry players. This will be the 12th time in the last 13 weeks.

Fuel Prices Expected to Increase Next Week
Price of diesel as of March 26, 2022

This time, however, only diesel and kerosene are getting a price bump at around Php 8 for both fuels. Again, this increase is based on the estimates of key industry players, since global gas prices have seen huge spikes due to the lingering conflict between Ukraine and Russia.

In the last 13 weeks, the Philippines have experienced 12 price increases and just 1 rollback. Thankfully, in an effort to aid those most affected by the rapidly-rising gas prices, the Department of Budget and Management (DBM) has released Php 5.5 billion in a subsidy program covering Public Utility Vehicles and automobiles serving in the agricultural sector. 

Moreover, the Department of Energy (DOE) is now doing everything in its capacity to prevent fuel overpricing across the country. The agency even went as far as asking consumers to report high or unreasonable prices to them. 

“We will not allow na may panloloko. If you think na mataas, anything na mataas, we will check. If it goes beyong the range, may presumption ‘yan na dapat silang magpaliwanag,” said Energy Undersecretary Gerardo Erguiza.

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