Diesel and gasoline prices are expected to increase by 90 centavos and 45 centavos a liter, respectively, in the first week of October. In separate advisories on September 30, 2024, oil companies said diesel prices would climb by 90 centavos, while gasoline would increase by 45 centavos and kerosene by 30 centavos per liter starting October 1. INQUIRER FILE PHOTO
Increases in petroleum products will welcome motorists in the first week of October, with oil companies hiking the per liter prices by as much as 90 centavos.
In separate advisories, Cleanfuel and Shell Pilipinas said diesel prices would climb by 90 centavos, while gasoline would increase by 45 centavos a liter.
Kerosene prices will also inch up by 30 centavos a liter.
This marks the second consecutive week of increases.
READ: Fuel prices to increase up to P1.10 a liter starting September 24
Rodela Romero, director of the Department of Energy’s (DOE) Oil Industry Management Bureau, said the upward adjustments could be attributed to the supply “uncertainty” due to worsening conflict in the Middle East. The Chinese government’s move to boost its economy is also seen to offset weak demand in Europe.
“US crude inventory draw is a bullish signal indicating tightening global supplies,” she added in an earlier statement.