Fuel consumers brace for another round of price hikes as petroleum products are slated to increase for the fourth consecutive week starting next Monday. According to estimates from the Department of Energy-Oil Industry, gasoline prices are expected to rise by P1.25 to P1.50 per liter, diesel by P0.40 to P0.60 per liter, and kerosene by P0.60 to P0.80 per liter.
The anticipated price adjustments come amidst significant factors influencing global oil markets. “Geopolitical tensions in the Middle East, substantial withdrawals from US crude inventories, and optimistic projections for summer fuel demand have collectively contributed to the upward trajectory in oil product prices,” remarked Department of Energy-Oil Industry Management Bureau Director III Rodela Romero.
Fuel companies typically announce these price changes on Mondays, effective the following day. The recent series of hikes have resulted in year-to-date increases of P9.25 per liter for gasoline, P8.40 per liter for diesel, and P1.75 per liter for kerosene.
In Metro Manila, current retail prices reflect a range of P55 to P81.75 per liter for gasoline, P52 to P70.25 per liter for diesel, and P74.04 to P84.04 per liter for kerosene, based on the latest data from the DOE’s price monitoring.
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