Diesel prices to increase P1.20 per liter starting today

October 8 ------ Diesel prices are set to increase by P1.20 per liter starting Tuesday, October 8, oil companies announced in separate advisories. Petro Gazz, Pilipinas Shell, and Seaoil also said kerosene prices would increase, too, by 70 centavos per liter while gasoline costs would remain unchanged in the latest round of adjustments.

This week’s pump price movements marked weeks of consecutive increases: two straight weeks for gasoline and kerosene, and three consecutive weeks for diesel. Department of Energy’s (DOE) Oil Industry Management Bureau Director Rodela Romero previously said firms would implement a mixed price adjustment following news about Israel deliberating an attack on Iran’s oil infrastructure resulting in a possible supply disruption.

Romero likewise cited disruptions in oil and gas in the Southeast US due to Hurricane Helene. The DOE official 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 added.

Source: inquirer.net