FUEL prices are expected to increase again next week as the global market reacts to tensions between the US and Iran and between Russia and Ukraine, local oil industry sources said on Friday.
They said diesel prices will go up by between P2 and P2.50 per liter, while gasoline is expected to spike between P4.50 and P5.00 per liter.
These estimates are based on the four-day trading of Mean of Platts Singapore, the pricing basis of refined goods in Southeast Asia.
This will also be the second consecutive week in which both diesel and gasoline prices increased.
“Global oil prices have rallied as the intensifying conflict in the Middle East tied to the US-Israel war with Iran heightened concerns about oil flows from the region once more,” a local oil industry source said.
“Diesel prices continue to be elevated due to reduced exports from the Middle East and Russia because of the wars, and due to rising seasonal demand,” the source added.
“Asian gasoline prices also surged due to strong demand but limited supply because of lower Chinese and Middle East exports and because multiple refineries in the Far East are undergoing planned maintenance. Furthermore, Russia’s gasoline export ban has also contributed to the supply concerns,” the source continued.
This week, according to the Department of Energy, diesel prices spiked by up to P5.18 per liter, while gasoline prices were raised by up to P4.69 per liter.
Water rates to spike starting Oct 1
The Metropolitan Waterworks and Sewerage System Regulatory Office (MWSS-RO) on Friday said that water rates will increase in the fourth quarter of 2026, starting on Oct. 1, mostly due to the changes in the foreign currency differential adjustment.
“The Foreign Currency Differential Adjustment is a tariff mechanism used by both Manila Water Company Inc. and Maynilad Water Services Inc. to pass on gains or losses from foreign exchange rate fluctuations on loans to customers,” MWSS-RO chief regulator Patrick Lester Ty said.
He also noted that these loans are mainly used to fund the expansion and improvement of water and wastewater services for customers inside their respective concession areas.
For Maynilad and Manila Water residential customers who qualify under the enhanced lifeline rate, both customers who consume 10 cubic meters or less and those who consume 20 cubic meters will have no adjustments for the period.
The enhanced lifeline for water is a special, higher discount on water bills given to low-income and low-consuming residential households in Metro Manila and nearby provinces
Then, in terms of regular rates, MWSS-RO said that Maynilad customers consuming 10 cubic meters or less will pay an additional P0.67 per month for the fourth quarter, customers consuming about 20 cubic meters will pay an additional P2.54 per month, and consumers using 30 cubic meters or more will pay an additional P5.19 per month.
For Manila Water, customers consuming 10 cubic meters or less will pay an additional P0.34 per month, customers consuming around 20 cubic meters will pay an additional P0.75 per month, and customers consuming 30 cubic meters or more will pay an additional P1.53 per month.
ED PAOLO SALTING
