Motorists will see mixed fuel price adjustments in the third week of December, oil industry players announced on Monday, December 15.
Starting Tuesday, Cleanfuel and Seaoil said gasoline prices will increase by ₱0.20 per liter. Meanwhile, diesel and kerosene prices will both go down by ₱0.20 per liter.
The adjustment follows a significant hike in gasoline prices last week, while diesel and kerosene prices were left unchanged.
The Department of Energy (DOE) earlier attributed the latest movement to easing global oil prices, as investors shifted attention back to Russia-Ukraine peace talks. Another contributing factor was Iraq’s restored production in one of its oilfields.
As of December 2, the DOE said gasoline has a year-to-date net increase of ₱19.90 per liter, diesel by ₱21.75 per liter, and kerosene by ₱6.75 per liter.