Motorists will pay a higher price for petroleum products starting Tuesday as gasoline and fuel prices will increase in the last week of September due to external headwinds.
After two weeks of rollbacks, gasoline prices will rise P1.10 per liter for the period September 24 to 30, 2024. Diesel prices will increase by P0.20 per liter, while kerosene prices won’t change.
Changes in fuel prices will go into effect on Tuesday, September 24, at 6 a.m., with the exception of Cleanfuel, which will increase rates that same day at 4:01 p.m.
Last week, Department of Energy’s (DOE) Oil Industry Management Bureau Director Rodela Romeo attributed the fuel price hike to external headwinds such as the Middle East war and the US Federal Reserve’s “aggressive” interest rate drop.
Once these price adjustments are implemented, the prices of petroleum and diesel will have increased by P5.95/L and P1.95/L, respectively since the start of 2024. On the other hand, the kerosene prices will have decreased by a net of P6.35/L since the beginning of the year.
The most recent data from the DOE’s price monitoring shows that the current retail prices of gasoline in Metro Manila range from P51.00 to P72.45 per liter, diesel from P46.74 to P61.50 per liter, and kerosene from P68.27 to P78.79 per liter. (TCSP)
