The Department of Energy confirmed Sunday that diesel prices could experience a surge of up to P4 per liter this week.
Rino Abad, Director of the DoE’s Oil Industry Management Bureau, acknowledged the potential increase, stating that it might even exceed the P4 mark.
Reports have indicated that various fuel companies anticipate a possible diesel hike of P4.10 per liter. Abad emphasized in a radio interview that the diesel price escalation estimate is feasible.
Meanwhile, the cost of kerosene might see an uptick ranging from P2.70 to P3 per liter, while gasoline could witness a more modest rise of P0.50 per liter.
Earlier, Rodela Romero, Assistant Director of the OIMB, referred to industry projections based on oil trading data from July 31 to August 3, 2023. According to these estimates, diesel prices may surge by P3.60 per liter, kerosene by P2.65, and gasoline by P0.15 to P0.35. (ai/mnm)