MANILA — Fuel prices are expected to climb again next week as supply constraints persist amid the ongoing Middle East conflict, an industry source said.

Based on Mean of Platts Singapore (MOPS) trading from March 30 to April 2, diesel prices could increase by P17 to P19 per liter. This may push regular diesel prices to as high as P165 per liter, while premium diesel could exceed P170 per liter.

Gasoline prices are also projected to rise by P3 to P5 per liter, bringing estimated pump prices to around P120 for super premium, P117 for premium, and P110 for regular gasoline.

“Diesel supply continues to tighten as demand remains high, pushing the prices of middle distillates much higher relative to gasoline,” the industry source said.

“Renewed fears of prolonged supply disruptions have pushed prices to all-time highs. Any serious talks with Iran could de-escalate the tensions and bring some relief to prices. However, until the Strait of Hormuz is reopened, supply will remain tight and prices supported,” the source added.

Data from the Department of Energy (DOE) showed that fuel retailers had already implemented increases for the March 31 to April 6 period, with diesel rising by P14 per liter, gasoline by P2.90 per liter, and kerosene by P2.50 per liter.

The latest adjustments marked the 13th price movement this year, bringing total net increases to P48.20 per liter for gasoline, P90.05 per liter for diesel, and P78.10 per liter for kerosene, according to DOE data.