Gasoline prices are set to increase again on Tuesday, December 9, while diesel and kerosene costs will remain unchanged for the week.
Cleanfuel and Seaoil announced on Monday, December 8, that gasoline prices will rise by ₱1.20 per liter, following last week’s big-time rollbacks for diesel and kerosene and a modest ₱0.20 upward adjustment in gasoline at the start of December.
The Department of Energy (DOE) earlier attributed this week’s expected price movement to geopolitical tensions, including Ukraine’s attack on Russia’s oil infrastructure and escalating strains between the United States and Venezuela. The agency also noted a surplus in global crude supply.
As of December 2, the DOE reported year-to-date net increases of ₱19.90 per liter for gasoline, ₱21.75 per liter for diesel, and ₱6.75 per liter for kerosene.