The Department of Energy (DOE) announced that a mixed adjustment in petroleum product prices is likely to be implemented next week.
Projected Price Changes
According to the DOE, the following price changes are expected per liter:
- Gasoline: Increase of P0.00 to P0.50 per liter
- Diesel: Decrease of P3.00 to P5.00 per liter
- Kerosene: Decrease of P2.00 to P3.00 per liter
Market Stability Cited
DOE Oil Industry Management Bureau Director Rino Abad stated that the tension between Iran and the United States has not significantly affected the global oil market and overall oil supply. As a result, the forecasted oil price adjustment is favorable for motorists, especially those using diesel.
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Expected Prices After Adjustment
Once the projected adjustment takes effect, the prices of major petroleum products are expected to be as follows:
- Gasoline: P85.50 per liter (after increase)
- Diesel: P91.51 to P93.51 per liter (after decrease)
- Kerosene: P123.28 to P122.28 per liter (after decrease)
