The motoring public is likely to face higher transport and fuel costs next week as oil companies prepare to implement pump price adjustments starting Tuesday, 2 February.

Rodela Romero, director of the Department of Energy’s (DOE) Oil Industry Management Bureau, said oil prices rose for three consecutive sessions this week due to global supply risks. The increase reflects weather-related disruptions in the United States that shut in as much as 2 million barrels per day, delayed recovery at Kazakhstan’s Tengiz oil field, rising Iran risk premiums, and production policies by the Organization of the Petroleum Exporting Countries (OPEC) and its allies.

Romero estimated that gasoline may increase by “more or less P0.10,” diesel by “more or less P0.85,” and kerosene by “more or less P0.45.” These figures exclude operating costs and other premiums set by oil companies.

Jetti Petroleum, Inc. President Leo Bellas said actual price adjustments could be higher when additional costs are factored in. His estimates indicate diesel may rise by P1.30 to P1.50, and gasoline by P0.50 to P0.70.

Bellas cited geopolitical and supply factors as the main drivers. Elevated tensions in the Middle East, including US-Iran confrontations and sanctions, create uncertainty around Iranian oil supplies. Meanwhile, Kazakhstan’s ongoing oilfield outage and severe winter weather in the United States have tightened near-term crude availability.

Diesel and other middle distillate prices are also rising due to potential disruptions from the European Union’s ban on refined products derived from Russian-origin crude. Gasoline prices, however, face limited increases due to ample regional supply and existing inventories.

Consumers should prepare for a week of higher fuel costs as the combined effects of geopolitical risk, production outages, and supply chain pressures continue to influence the market.