Diesel prices will rise by P1.20 per liter on Tuesday, October 27, while gasoline will fall by P0.30 per liter, the Department of Energy (DOE) announced on October 26. Kerosene will go up by P0.50 per liter. The new prices apply until Monday, November 2.
The DOE attributed the changes to movements in global oil prices amid supply pressures linked to conflict in the Middle East. Industry forecasts late last week had pointed to bigger adjustments for both diesel and gasoline.
The increase follows a volatile week. In the previous round, diesel rose by P2.60 per liter, while gasoline fell by P4.30 and kerosene by P1.00. Over the two weeks, diesel has gone up by P3.80 per liter.
Diesel matters most for businesses because it fuels trucks, buses, jeepneys and farm equipment, so higher prices can feed into delivery costs and fares. Gasoline users will see a small saving. Actual pump prices may differ by company and station.
