Petroleum price hike continues

MANILA: While the floodwaters that plagued motorists in Metro Manila appear to have subsided, the prices of petroleum products continue to rise. 

According to the Department of Energy (DOE), the price of automotive fuel will jump anew starting tomorrow, August 24 with adjustments kicking in as early as 6 a.m.

The agency also noted that the retail price of gasoline will jump by P1.08 per liter across the board. Meanwhile, diesel prices will go up by P2.31 per liter on all variants. Lastly, kerosene will spike by P0.95 per liter. 

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Compared to last week’s movement, here is how it looks: 

Products	Permitted range of price adjustment (from August 18-24)	Permitted range of price adjustment (from August 25-31)
Gasoline	P2.49 increase	P1.08 increase
Diesel	P3.84 increase	P2.31 increase
Kerosene	P5.01 increase	P0.95 increase

“Ang mga pagbabagong ito ay nakabatay sa galaw ng pandaigdigang merkado ng langis, sa gitna ng patuloy na kaganapan sa Middle East na nakakaapekto sa global supply at presyo (These changes are driven by movements in the global oil market, amidst ongoing events in the Middle East that are affecting global supply and prices),” the DOE wrote in a social media post. 

“Patuloy ang pagkilos ng Department of Energy upang mapalakas ang supply ng langis at mapangalagaan ang kapakanan ng publiko (The Department of Energy continues its efforts to bolster oil supplies and safeguard the public's welfare),” it added. 

Also read: 

Another round of fuel price hikes set for 1st week of Jul.

Fuel price hike expected as month of Jun. closes

Fuel prices to drop by more than P11/L this week

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