Motorists should brace for a significant increase in fuel prices next week, with gasoline, diesel, and kerosene all expected to post hefty price hikes, according to the Department of Energy (DOE).

Based on the Department of Energy's Oil Industry Management Bureau's four-day trading estimate, gasoline prices may increase by P3 to P4 per liter.

Diesel is projected to record an even bigger adjustment, with prices expected to rise by P10 to P11 per liter, while kerosene may go up by P11 to P12 per liter.

The DOE said the projected increases were driven by renewed tensions in the Middle East, which have fueled concerns over potential disruptions in global oil supply.

However, the agency noted that the forecast remains preliminary as it is based only on the first four trading days in the international oil market. The final adjustments may still change depending on the outcome of the last trading day.

Oil companies are expected to announce their official price adjustments on Monday, with the new pump prices taking effect the following day.