Mixed fuel price movements possible next week - DOE

Metro Manila, Philippines – Motorists are facing mixed fuel price movements next week after two consecutive rollbacks, price projections of the Department of Energy (DOE) showed on Friday, Sept. 20.

The DOE said gasoline prices will likely rise by P0.40 to 0.90 per liter. Diesel and kerosene prices, meanwhile, might remain stable or go up by less than a peso.

The agency cites various reasons behind the price adjustment - including the aggressive interest rate cut by the US Federal Reserve and escalating tensions in the Middle East.

On Tuesday, oil firms slashed fuel prices by at least a peso.