Big fuel price increase seen next week — DOE

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An attendant fills up a tricycle with gasoline at a petrol station in Manila on March 15, 2022.

AFP / Ted Aljibe

 

MANILA, Philippines — Consumers may have to pay more for their fuel next week after the Department of Energy (DOE) said Friday that there will likely be a large increase in pump prices due to developments affecting the global oil market, where the Philippines mainly gets its supply from. 

 

Gas may experience an increase of P3.50 per liter, while diesel may rise by P4.54 per liter, Director of the DOE's Oil Industry Management Bureau Rino Abad confirmed in an interview with Dobol B TV on Friday.

 

"We confirm that there will be a bit of a large increase [in fuel prices] next week...[But] I cannot say for certain how large the increase will be. The oil price movements are dictated by the Mean of Platts Singapore," Abad said in Tagalog, referring to the pricing yardstick for refined oil products in Southeast Asia. 

 

Full Story: https://www.philstar.com/headlines/2022/04/22/2176048/big-fuel-price-increase-seen-next-week-doe

 

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