DOE sees at least P2/liter hike in fuel prices

Metro Manila, Philippines — Motorists might have to shell out next week for a big-time fuel price hike, the Department of Energy (DOE) said Friday, Oct. 10.

Gasoline prices may go up by P2 to P2.30 per liter, said Oil Industry Management Bureau Assistant Director Rodela Romero. Diesel may cost P2.35 to P2.65 more, and kerosene P2.45 to P2.55.

Oil companies raised diesel and kerosene prices this week. Gasoline prices were unchanged.

Romero cited the following triggers for costlier fuel:

- escalating conflict in the Middle East threatens to disrupt oil exports with an increasing war premium; and

- hurricane Milton in the US that disrupted the energy supply chain.