MOTORISTS may have to brace for costlier fuel products in the first week of September. Gasoline prices are seen to rise for the third straight week.
In a public advisory Friday, Jetti president Leo Bellas said the increase in the price of a liter of diesel was expected at 80 centavos to P1. The price of gasoline might also rise by 40 centavos to 60 centavos a liter.
Estimates from the Department of Energy (DOE) likewise showed possible upward adjustments in pump prices. Diesel is seen posting an increase of more or less P1 per liter.
The DOE said gasoline and kerosene may also inch up by about 50 centavos to 60 centavos a liter.
“Crude oil and refined fuel prices have rebounded this week, driven by concerns of supply disruptions after Russia and Ukraine intensified their attacks on each other’s energy infrastructure, and worries that new US sanctions on Russia and buyers of Russian crude oil will restrict global supply flows,” Bellas said.
Last Tuesday, August 26, prices of gasoline prices increased by P0.70 per liter, diesel by P0.50 per liter, and kerosene by P0.30 per liter.
Prior to this, only the gasoline prices were unchanged on August 19 due in part to foreign exchange movements, supply and demand issues, and the impact of geopolitical developments overseas. (Lisbet K. Esmael © Philippine Daily Inquirer)
