MOTORISTS will see mixed oil price movements this week, with gasoline posting another hike and diesel dropping by about P3 per liter.
In a media briefing, Department of Energy (DOE) Secretary Sharon Garin said gasoline prices will increase anew by P1.56 per liter beginning today.
Kerosene prices will likewise go up by P1.77 per liter. Diesel, meanwhile, will have a price cut of at least P3.01 per liter.
Jetti Petroleum president Leo Bellas stated over the weekend that President Donald Trump’s announcement about not launching new attacks against Iran before the US elections curbed the further rise in oil prices.
“Product also eased down on Friday following reports of resumption of China’s fuel exports after a brief halt during its Golden Week holiday, putting some relief on the tight global fuel markets,” Bellas added.
The country’s fuel inventory is enough for 51 days. (Lisbet K. Esmael © Philippine Daily Inquirer)
