Diesel prices could see P1 increase next week

ABS-CBN News

Posted at Jun 25 2022 11:54 AM

Motorists line up to buy fuel at a gas station in Mandaluyong City on March 22, 2022. George Calvelo, ABS-CBN News
Motorists line up to buy fuel at a gas station in Mandaluyong City on March 22, 2022. George Calvelo, ABS-CBN News

MANILA – Diesel rates will see an increase for a fourth straight week, while kerosene and gasoline prices could stay relatively the same.

Industry estimates for diesel peg an increase of about P1 to P1.50 per liter, while gasoline could go up or down by P0.20 per liter. 

Meanwhile, kerosene prices may be steady or increase by P0.20.

The Department of Energy earlier explained to ABS-CBN News that the demand for diesel remains high.

"Magkaiba galaw. Gasolina bumaba, diesel tumaas. Magkaiba [ang] merkado at demand mas mataas pangangailangan ng diesel may tightness sa supply including sa commercial," Rodela Romero, the energy department's assistant director, said. 

Industry players believe that the weakening peso rates may have something to do with fluctuating gasoline prices as of late. 

– Report from Alvin Elchico, ABS-CBN News