Price hike for gas, diesel seen next week

MANILA, Philippines — Another round of mixed adjustments is expected at the pumps next week, with gasoline and diesel seen increasing by as much as P0.45 per liter.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) indicated upward adjustments of P0.15 to P0.45 per liter for gasoline and P0.10 to P0.40 per liter for diesel.

Kerosene prices, on the other hand, are estimated to decline by P0.20 to P0.30 per liter.

The estimates were based on the four-day trading in the international market.

DOE-OIMB assistant director Rodela Romero attributed these expected price movements to the bullish outlook on global primary energy demand.

Based on its recent energy outlook, S&P Global Commodity Insights projects energy demand to grow by around nine million barrels of oil per day this year and further increase by over eight million barrels per day in 2025.

Friday’s trading would determine the final price adjustments, which will be announced on Monday and will take effect the following day.