DIESEL AND KEROSENE PRICES UP BY P1.20 PER LITER STARTING OCTOBER 8

Diesel prices are set to increase by P1.20 per liter and kerosene by P0.70 on the second week of October (Photo courtesy of ABS-CBN News)

Oil companies announced in separate advisories that the prices of fuel products are expected to see mixed adjustments in the second week of October, diesel prices will go up while gasoline prices will remain steady.

Price movements will be effective starting Tuesday, October 8:

Shell Pilipinas, Seaoil, Caltex (effective 6 a.m.)

Gasoline - No change

Kerosene - P0.70/liter increase

Diesel - P1.20/liter increase

Cleanfuel (effective 4:01 p.m.)

Gasoline - No change

Diesel - P1.20/liter increase

Petrogazz (effective 6 a.m.)

Gasoline - No change

Diesel - P1.20/liter increase

The upward adjustments in the prices of select fuel products marks the third straight week of hikes for diesel, and the second for kerosene, while gasoline prices will be unchanged.

This brought year-to-date adjustments to a net increase of P6.40 per liter for gasoline and P2.85 per liter for diesel, and a net decrease of P6.05 per liter for kerosene as of October 1, 2024.

According to the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) Director Rodela Romero, the mixed price adjustments were implemented following news about Israel deliberating an attack on Iran’s oil infrastructure resulting in a possible supply disruption.

The DOE official cited disruptions in oil and gas in the Southeast US due to Hurricane Helene and further noted the balance of weak global demand growth and a positive supply outlook.

“Many key buyers of the Persian Gulf sour crudes are confident that trade flows between the Persian Gulf and Asia will not be disrupted. East Asia is neutral in the ongoing conflict,” she stated.

Source: Philippine Daily Inquirer

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