DOE: Diesel, kerosene prices may rise by over P1 per liter

MANILA, Philippines — Diesel and kerosene prices are expected to rise this week, while gasoline prices may either go up or down.

Based on the Department of Energy's latest fuel price adjustment forecast released Monday, July 6, the following adjustments are expected:

• Diesel: increase of P1.57 to P3.57 per liter
• Kerosene: increase of P1.70 to P3.70 per liter
• Gasoline: rollback of P1.75 or increase of up to P0.25 per liter

The adjustments will take effect Tuesday, July 7, and remain in place until Monday, July 13.

Inventory. The country's total oil and fuel supply is expected to last 46.50 days, based on the DOE's inventory.

As of July 3, gasoline supply was estimated to last 43.72 days, diesel 43.81 days and kerosene 177.50 days.

Jet fuel supply, meanwhile, was estimated to last 84.93 days, fuel oil 36.45 days and liquefied petroleum gas 42.28 days.

DOE Undersecretary Alessandro Sales said current pump prices have yet to return to prewar levels because the Philippines remains largely dependent on imported oil and fuel supplies.

"Kahit na 'yung Dubai crude ay naging pantay na noong pre-war, 'yung diesel mismo, may premium pa rin," Sales said. "Mas mataas pa rin ang diesel ng 22 dollars per barrel kaysa noong bago mag-umpisa ang giyera. Kaya nagre-reflect ito sa pump price natin."

(Although Dubai crude [prices] went back to its pre-war prices, we are still paying a premium for diesel. The price of diesel is 22 dollars higher per barrel compared to its pre-war price. So it reflects on our pump price.)