Even the cheapest diesel prices in Metro Manila could approach P100 per liter this week as another steep round of fuel price increases takes effect, adding pressure on motorists and transport operators.

In an advisory this evening, the Department of Energy said regular diesel and Diesel Plus prices will increase by a maximum of P8.82 per liter tomorrow morning, while gasoline prices will rise by as much as P4.88 per liter. Kerosene will increase by up to P6.47 per liter.

Based on prevailing National Capital Region retail prices last week, the adjustment could bring regular diesel prices to an estimated P96.53 to P110.82 per liter.

This means even the lower end of the diesel price range would move to within P3.50 of the P100-per-liter mark, while more expensive stations could charge above P110 per liter.

Diesel Plus could climb to an estimated P100.72 to P121.22 per liter, putting the entire prevailing range above P100.

According to Jetti Petroleum President Leo Bellas, oil prices have pulled back as Saudi Arabia moves to restore export capacity, easing some near-term concerns over supply.

“Oil prices have pulled back as recent efforts by Saudi Arabia to restore export capacity eased near-term supply anxiety and concern,” Bellas said.

He said Saudi Arabia is seeking to restore half of its export capacity through the East-West pipeline within days while offering more cargoes to Asian refiners through ship-to-ship transfers off Oman.

Prices also declined after China reportedly asked Iran, acting on a request from Saudi Arabia, to limit attacks by Houthi rebels on Saudi oil infrastructure, according to Bellas.

Still, Bellas said tight physical supplies have prevented a steeper decline in prices, while vessel traffic through the Strait of Hormuz continues to fall amid persistent risks.

He said Saudi-Houthi tensions also pose renewed risks to Red Sea shipping and regional energy infrastructure.

“Rising feedstock risks for Asian refiners and tightening supplies due to refinery disruptions and maintenance continue to support the prices of middle distillates and diesel this week,” Bellas said.

Gasoline prices are likewise under pressure as tight immediate supply and concerns over future availability coincide with firm demand.

“Tight prompt supply and future supply concerns amid firm demand have driven Asian gasoline prices higher week-on-week as well,” Bellas said.

Following the latest adjustment, RON 91 could rise to an estimated P79.86 to P102.58 per liter, while RON 95 could reach P80.70 to P106.98 per liter.

RON 97/100 could range from P84.51 to P111.68 per liter, while kerosene could climb to P116.47 to P147.19 per liter.