World · Philippines Bureau
Mixed fuel price moves ahead as gasoline, kerosene climb
Motorists and consumers in the Philippines face divergent pump price adjustments this week, with gasoline and kerosene rising while diesel prices retreat, the Department of Energy reported Tuesday.
LSN Philippines ·
MANILA — The Department of Energy announced a mixed bag of fuel price movements effective this week, reflecting volatile global crude oil dynamics and supply considerations.
Gasoline prices will increase by P1.56 per liter, while kerosene will climb by P1.77 per liter, the DOE said. The adjustments will provide some relief for diesel consumers, whose prices are set to decline by P3.01 per liter.
The price movements come as energy markets remain vigilant over potential disruptions to global oil supplies. Market watchers have pointed to geopolitical and weather-related factors that continue to influence crude valuations, putting upward pressure on certain fuel products while others benefit from trading dynamics and refinery adjustments.
The DOE regularly reviews fuel prices based on international crude oil trends and foreign exchange movements, providing weekly guidance to oil companies on pump price adjustments to ensure market stability and consumer awareness.