Oil price hike set on Sept. 24

Metro Manila, Philippines — Fuel prices will end a downward trend on Tuesday, Sept. 24, according to advisories from oil companies.

Cleanfuel and Seaoil said per-liter prices of gasoline will increase by ₱1.10 and diesel by ₱0.20.

Seaoil said kerosene prices will be unchanged.

Higher prices will follow two consecutive hefty cuts.

In its forecast on Friday, the Department of Energy cited various reasons behind the price adjustment, including the aggressive interest rate cut by the US Federal Reserve and escalating tensions in the Middle East.