Another fuel price hike is set just before the year ends, with diesel and kerosene increasing by ₱0.60 per liter starting Tuesday, December 30, according to separate announcements from Cleanfuel, Seaoil, and other industry players.
Gasoline prices will remain unchanged this week.
The Department of Energy (DOE) attributed the mixed price movement to “the global oversupply of oil and the weak demand amid the winding down of holiday travels and seasonal industrial demand.” The DOE also cited “the uncertainty of geopolitical tensions in Venezuela, Ukraine, and Russia” as a contributing factor.
This comes after a major price rollback implemented by oil firms the previous week.
As of December 23, the year-to-date net increase stood at ₱20.50 per liter for gasoline, ₱20.25 for diesel, and ₱4.95 for kerosene.