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Gasoline, diesel prices headed for hefty rise

Manila Bulletin

January 17, 2026

Fuel prices are poised for a hefty jump next week as escalating geopolitical risks in the Middle East and the Black Sea outweigh a potential global supply glut.

- By GABRIELL CHRISTEL GALANG

Based on the four-day trading data from the Mean of Platts Singapore, gasoline prices may rise by P1 to P1.20 per liter, while diesel is projected to spike by P1.80 to P2 per liter. Kerosene is also expected to increase by approximately P1 per liter.

The potential adjustments follow a volatile week where supply disruption fears took center stage.

The rally is being driven by civil unrest in Iran, the fourth-largest producer in the Organization of Petroleum Exporting Countries. Demonstrations against the country’s clerical system have sparked concerns over the stability of its output, which accounts for roughly four percent of global demand.

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