Diesel prices may shoot up to almost ₱115 per liter, and gasoline prices up to nearly ₱92 in Metro Manila and other urban areas this week, according to a Monday report.

RH 15 Jecelle Ricafort reported that Department of Energy (DOE) Secretary Sharon Garin announced that diesel may possibly cost ₱114.90 per liter and gas, ₱91.60 per liter, as diesel prices will increase by ₱20.40 to ₱23.90 per liter, gasoline prices by ₱12.90 to ₱16.60 per liter, and ₱6.90 to ₱8.90 will be added for every liter of kerosene.

“We have some of the—two of the highest jumps in increase in oil or oil price hike, and we are also at the most expensive,” Garin said.

The energy secretary said that pump prices will be higher in far-flung areas due to transportation and logistics.

This is the second wave of oil price hikes in the country amid the war in the Middle East.

The Philippines’ fuel reserves will only last until April, Garin said, although she expressed confidence that the country will find other suppliers aside from the Middle East to replenish its supply.

The government is currently in talks with various oil exporters in order to acquire oil. However, the DOE secretary admitted that oil prices in the global market remain costly.

According to a report by Reuters, Israel plans to continue its war against Iran, a major oil producer, for at least three more weeks. The US-Israeli war on Iran is presently entering its third week, as of writing.