MOTORISTS will see another hefty price hike of up to P5.68 per liter for petroleum products this week.
In an advisory, the Department of Energy said gasoline prices would be costlier by P5.68 per liter beginning today, September 15.
Diesel will also increase by P4.31 per liter, while kerosene will rise by P4.62 per liter.
On Friday, September 11, Jetti Petroleum President Leo Bellas shared that diesel prices may increase by P2 to P2.50 per liter. Gasoline prices may have bigger price jumps, reaching P4.50 to P5 per liter.
“Oil prices have rallied as the intensifying conflict in the Middle East tied to the US-Israel war with Iran heightened concerns about oil flows from the region,” he said.
Asian gasoline, in particular, saw significant upward price adjustments due to strong demand despite issues on supply, Bellas said. (Lisbet K. Esmael © Philippine Daily Inquirer)
