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P4.80 per liter fuel hike looms as Israel-Iran conflict escalates
The Freeman
|June 21, 2025
Escalating tensions between Israel and Tran could push fuel prices in the Philippines up by as much as P4.80 per liter next week, the Department of Energy (DOE) warned.
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In a June 20 statement, the DOE warned motorists to brace for an unusually sharp fuel-price hike next week.
Gasoline may go up by P2.50 to P3 per liter, while diesel could see a larger increase of P4.30 to P4.80 per liter.
Kerosene is forecast to climb P4.25—P4.40 per liter—its steepest increase this year—likely turning its year-to-date decline into a net gain.
According to DOE Oil Industry Management Bureau Assistant Director Rodela Romero, global crude oil prices surged by $3.50 to $4 per barrel from June 16 to 19, based on international trading data.
She said crude oil prices are expected to reach $80 per barrel by the end of June, up from the current average of $77 as of Thursday.
Dit verhaal komt uit de June 21, 2025-editie van The Freeman.
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