MOTORISTS may face another round of higher pump prices next week, with industry projections pointing to increases of at least P1 per liter across key fuel products.

Based on four days of international trading, oil industry analysts estimate an uptick of P1 to P1.20 per liter for diesel, P1.30 to P1.50 for gasoline and roughly P1 for kerosene.

Companies typically confirm final adjustments on Monday, with new prices taking effect the following day.

According to Rodela Romero, assistant director at the Department of Energy, global petroleum markets were unsettled early in the week amid fresh US sanctions on Russian oil and improved sentiment tied to efforts to avert a US government shutdown.

Jetti Petroleum president Leo Bellas said both diesel and gasoline remain elevated in the domestic market, citing expectations of constrained supply and steady regional demand.

"Further upside to prices is expected to be capped as supply tightness is seen to gradually ease with refineries returning from the seasonal turnaround,” Bellas noted in a Philstar report.

This projected round of increases follows last Tuesday’s adjustments by major oil firms, which raised gasoline prices by P0.50 per liter and diesel by P1 per liter.

A freeze on kerosene prices remains in effect in areas declared under a state of calamity after recent tropical cyclones.(MyTVCebu)

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