Diesel prices to increase P1.20 per liter starting October 8

Starting Tuesday, October 8, 2024, diesel prices will be more expensive by P1.20 per liter, and kerosene by 70 centavos a liter. However, gasoline costs will remain unchanged, based on Monday’s separate advisories of oil companies. INQUIRER FILE PHOTO

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.

READ: October opens with oil price hikes, new biodiesel blend

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.