Mixed Oil Price Adjustments Expected Next Week
FUEL PRICE UPDATE – Several gasoline stations in the country are set to impose mixed oil price adjustments starting next week.
Filipino motorists are advised to prepare for some changes in fuel prices in the upcoming week, with gasoline prices expected to drop while diesel and kerosene prices are likely to increase.
The Department of Energy has shared insights based on the latest international trading activities, indicating a varied trend in petroleum product prices.
Gasoline prices could down by P0.50 to P0.70 per liter, diesel prices will increase by approximately P0.40 to P0.70 per liter, while kerosene may see an increase of P0.15 to P0.35 per liter.
These fluctuations are influenced by several factors, including geopolitical tensions in the Middle East, particularly regarding Israel’s potential military actions against Iran, which could disrupt oil supply chains.
Additionally, Hurricane Helene’s aftermath has caused interruptions in oil and gas supplies in the southeastern United States.
The expected drop in gasoline prices is attributed to a combination of weak global demand and a favorable outlook for oil supply. Fuel companies typically announce price changes every Monday, with the adjustments taking effect the following day.
Last October 1, 2024, gasoline prices increased by P0.45 per liter, while diesel saw a larger jump of P0.90 per liter, and kerosene rose by P0.30 per liter.
The total year-to-date price changes reached to a P6.40 increase for gasoline, P2.85 rise for diesel, and P6.05 per liter of kerosene.
Fuel prices will continue to experience mixed adjustments in the second week of October.
This is a developing report, just visit this website regularly or refresh the page for further updates.
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