Bad news, Kapamilya. 

After 3 straight weeks of pump price cuts, March will be ending on a down note as oil prices increase in the last week, the Department of Energy said Friday.

Assistant Director III Rodela Romero of the DOE Oil Industry Management Bureau said the following price increases on petroleum products may be implemented on March 25, based on 4 days of trading of Mean of Platts Singapore.

Gas - P0.60-P1.00/liter

Diesel - P0.10-P0.50/liter

Kerosene P0.10-P0.30/liter

Factors affecting oil prices include Israel's expansion of ground operations across Gaza, ratcheting up tensions in the Middle East, and China’s new consumption action plan, which is expected to increase demand.

A decline in US oil inventories is also affecting prices.

With premium and other added costs, the potential price increase will further bloat by Tuesday. According to Jetti Petroleum President Leo Bellas, it is already certain that there will be a price hike next week, expecting further rise in fuel prices today at the spot market.

For the last 3 weeks, the total rollback for diesel stands at P1.90/L, gasoline by P2.60/L and kerosene by P3.60/L.