Diesel prices seen to jump by up to P4.62/L on July 14

CEBU CITY, Philippines — Motorists should brace for another hefty increase in diesel prices this week.

Price hike of as much as P4.62 per liter will take effect this Tuesday, July 14, the Department of Energy (DOE) said.

During a media briefing on Monday, July 13, the DOE’s Oil Industry Management Bureau said diesel prices are expected to increase by P2.62 to P4.62 per liter.

READ: FUEL PRICE WATCH, Cebu – July 7

Kerosene may also rise by P2.22 to P4.22 per liter.

Gasoline prices, meanwhile, are expected to either remain unchanged or decline by as much as P1 per liter, depending on the pricing decisions of oil companies.

Energy Secretary Sharon Garin pointed to continued volatility in global oil markets behind the mixed price adjustments.

“The situation in the Middle East remains volatile,” said Garin.

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