(Photo by Dexter Terante)
In the latest announcement by oil companies, diesel will increase by P0.75 per litre and kerosene will rise by P0.50 per litre.
The price of gasoline, on the other hand, will decrease by P0.10 per litre.
Rodela Romero, Director of the Department of Energy (DOE) Oil Industry Management Bureau, stated that the increase is due to a positive outlook on the US oil demand, tighter oil supply in Asia, and the ongoing war in the Middle East.
Last week, the price of gasoline increased by P0.20 per litre while diesel and kerosene both rose by P0.50 per litre.
Currently, the year-to-date adjustment for gasoline is at P8.75 per litre, and for diesel, it is at P6.55 per litre.
