New double-digit hikes for diesel, kero set on July 21

MANILA, Philippines – Motorists will face another double-digit increase in pump prices starting Tuesday, with diesel and kerosene posting the steepest hikes, amid renewed hostilities in the Middle East.

In a media briefing, Department of Energy (DOE) Secretary Sharon Garin said the agency is again implementing prescribed adjustments given the hefty price movements across the petroleum products.

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Local fuel companies will increase diesel prices by as much as P10.68 per liter.

Gasoline will also go up by as much as P3.65 per liter, while kerosene has the biggest jump at P11.77 per liter.

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“Heightened tensions and developments in the Middle East are affecting global oil markets. Because these markets are interconnected, they are driving price adjustments up across every importing country,” she said.

The agency assured the public that the country has enough fuel supply, with inventory enough for about 46 days. /pai INQ