ANOTHER WEEK, another wallop for your fuel budget.

Motorists should once again brace for higher pump prices, as the Department of Energy (DOE) forecasts fresh increases set to take effect next week.

Based on the latest global oil trading data, the DOE projects a possible increase of P0.15 to P0.60 per liter for gasoline, P0.50 to P0.90 for diesel, and P0.25 to P0.40 for kerosene.

“These movements are due to persistent geopolitical tensions abroad,” said Rodela Romero, assistant director of the DOE’s Oil Industry Management Bureau in a Philstar report.

Romero pointed to the ongoing conflict between Russia and Ukraine and renewed uncertainty over the nuclear deal between the United States and Iran.

Romero added that concerns over global supply are also pushing prices higher. Massive wildfires in Canada have disrupted oil production, while the United States reported a sharper-than-expected drop in crude inventories.

Final price adjustments will be announced on Monday, following the inclusion of Friday’s trading results, and will be implemented the following day.(MyTVCebu)

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• #Fuel Price
• #Price Hike
• #Department of Energy
• #Global Oil
• #Gasoline
• #Diesel
• #Kerosene
• #Rodela Romero
• #Oil Management Bureau
• #Russia
• #Ukraine