Malacañang has assured the public that the Philippines has enough fuel on hand, even as fighting continues in the Middle East, according to ABS-CBN. The assurance was issued as global oil markets remain unsettled by the ongoing conflict.
The calm on supply, however, does not extend to prices. Several outlets are reporting that another round of increases is expected at the pump next week.
The Philippine News Agency reported that fuel prices could rise by nearly P11 per liter. Philstar.com put the projected diesel increase at close to P11 per liter, with gasoline seen going up by about P5. Inquirer.net also carried the looming oil price hike among its top stories.
Separately, BusinessWorld Online reported that the government is funding fuel relief measures and has not yet planned to borrow for the purpose.
The reports point to a split picture for Filipino consumers: adequate stock levels, but higher costs at the pump driven by events abroad. The Middle East conflict has been cited as the backdrop for the expected adjustments.
What to watch next: the official weekly price adjustment announcement, which will confirm the exact per-liter increases for diesel and gasoline.