Starting Tuesday, October 8, the price of diesel will increase by P1.20 per liter, according to the announcement of some oil companies. Along with this increase, the price of kerosene will also increase by 70 centavos per liter, while the price of gasoline will remain the same.
This adjustment continued the trend of rising prices at the gas station, where gasoline and kerosene experienced two consecutive weeks of increases, and diesel saw three weeks of price increases.
Rodela Romero, Director of the Department of Energy's (DOE) Oil Industry Management Bureau, explained that the mixed price increases were caused by fears of a possible supply disruption following talks with Israel about the attack. in Iran's oil infrastructure. Romero added, oil and gas production in the Southeastern US was also affected due to Hurricane Helene.
Despite these challenges, he emphasized the balance between weak global demand and a good supply outlook, and assured that the main buyers of Persian Gulf sour crudes remain confident that trade flows between Persian Gulf and Asia, as East Asia remains neutral in the current conflict.
