GAS and diesel prices are set to go up again on June 3, oil companies said.
In separate advisories yesterday, Petron, Seaoil, CleanFuel, and PetroGazz said gasoline prices would go up by 40 centavos per liter, marking the third straight week of increases.
Diesel will be more costly by 30 centavos a liter.
Kerosene prices, on the other hand, will dip by 10 centavos per liter.
Rodela Romero, assistant director of the Department of Energy-Oil Industry Management Bureau, said late last week that the potential price hikes could be attributed to several external factors, including the looming US sanctions on Russia, worsening geopolitical tensions in oil-producing nations, and easing tariff woes between the United States and European Union.
The possible downward price movement, meanwhile, may be influenced by OPEC+’s (Organization of the Petroleum Exporting Countries and allies led by Russia) decision to increase its production.
Earlier on June 1, Solane and Petron reduced prices of their liquefied petroleum gas (LPG) products.
In separate advisories, Solane and Petron stated that the price decrease is P1.64 and P1.75 per kilogram, respectively.
”This reflects the international contract price of LPG for the month of June,” Petron said. (Lisbet K. Esmael © Philippine Daily Inquirer)
