Bad news, Kapamilya. The Department of Energy is predicting an uptick in petroleum prices next week based on the first 4 days of trading on the Mean of Platts Singapore.

"Base sa 4 na araw ng trading sa Mean of Platts Singapore, magkakaroon ng pagtaas sa lahat ng produkto ng petrolyo gaya ng gasolina, diesel at kerosene," Rodela Romero, Director 3 of the DOE Oil Industry Management Bureau, said in a TeleRadyo Serbisyo interview.

The DOE is predicting an above P1 per liter increase in diesel and kerosene prices and above 50-centavo increase in gasoline prices.

She said the rise in oil prices could be attributed to a drop in US crude stockpile as well as Iran's call on members of the Organization of Islamic Cooperation (OIC) to impose an oil embargo and other sanctions on Israel.