Diesel prices seen hitting P130-P140/liter
MANILA, Philippines – The Philippines was hit by yet another “significant jump” in fuel prices this week, with diesel prices soaring to nearly P150 a liter, Energy chief Sharon Garin said Tuesday.
Garin said, however, that the increases were not as sharp as in the previous two weeks.
She presented during a media briefing the following range of adjustments—P8 to P12 per liter for gasoline; P15 to P18 for diesel; and P12 to P22 for kerosene.
READ: Milder oil price hikes set on March 24
Diesel, including premium diesel fuel, is already tracking P107 to P144.20 a liter in Metro Manila and highly urbanized areas.
The figures were higher compared to the initial data she provided on Monday.
In separate advisories, Jetti Philippines said it would increase the prices of diesel and gasoline products by P18 and P8 per liter, respectively.
Petron, meanwhile, said it would raise its prices by P10.50 for gasoline; P17.50 for diesel; and P21.50 for kerosene.
Garin said the price increases were due to the war in the Middle East that has constrained fuel supply.
She assured the public, however, that the country’s fuel supply was “still sufficient” and “not in an alarming state.”
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