Starting Tuesday, September 24, the price of oil will increase according to the announcement of various oil companies. Seaoil, CleanFuel, Petro Gazz, and Shell Pilipinas confirmed that the price of gasoline will increase by P1.10 per liter, while diesel will increase by 20 cents per liter.
There will be no change in the price of kerosene during this period.
This increase in oil prices follows a two-week decline in the prices of petroleum products. According to Rodela Romero, director of the Department of Energy's Oil Industry Management Bureau, the increases were caused by external factors, including aggressive interest rate cuts by the US Federal Reserve and ongoing conflicts in the Middle East.
As of September 17, the total price increase for gasoline and diesel since the beginning of the year was P4.85 and P1.75 per liter, respectively, while kerosene saw a decrease of P6.35 per liter.
