The Central Energy Fund’s mid-month statistics indicate that diesel and gasoline car owners may face further fuel price agony in July. Drivers should prepare themselves for another wave of pump price rises in the coming week, which might be the third week in a row. Based on oil market monitoring from June 13 to 16.

Diesel may increase by P2.00 to P2.30 per liter and gasoline may go up by P0.20 to P0.50 per liter.

When asked for response, Rino Abad, head of the Department of Energy-Oil Industry Management Bureau, said the potential price hike is moderated “most likely due to the China lockdown.”

“But it did not cause rollback so we still expect increase next week but amounts are relatively smaller compared to last week,” Abad said, adding that the European Union’s restriction on Russian oil imports, sparked by the latter’s war with Ukraine, is still causing gasoline prices to rise.