MOTORISTS will face mixed pump price adjustments this week, with gasoline prices set to rise while diesel and kerosene prices are expected to drop for another week.
Based on the approved adjustments of the Department of Energy (DOE), retailers will be allowed to hike prices per liter of gasoline by up to P3.50, and roll back those of diesel by P1, and kerosene by P1.90.
“Ang mga pagbabagong ito ay nakabatay sa galaw ng pandaigdigang merkado ng langis, sa gitna ng patuloy na kaganapan sa Middle East na nakakaapekto sa global supply at presyo,” the DOE said in an advisory.
(The adjustments are based on movements in the global oil market amid ongoing developments in the Middle East that are affecting global supply and prices.)
The actual adjustments will depend on retailers, and will take effect today, November 3.
The announcement is in line with projections made by an oil industry source, citing the easing supply outlook on diesel, and higher imported costs of crude.
Firms last week hiked prices of diesel by P1.20 and kerosene by P0.50, while rolling back those of gasoline by P0.30.
These price movements on October 27, the 43rd for the year, resulted in a total net increase of P68.55 per liter for gasoline, P65.63 per liter for diesel, and P63.26 per liter for kerosene. (GMA News)
