Diesel Price Hike Looms; Rollback for Gasoline
- Motorists in the Philippines should expect diesel prices to rise next week as escalating hostilities in the Middle East threaten to disrupt global oil supplies.
- Jetti Petroleum president Leo Bellas reported that Houthi attacks on Saudi infrastructure and Ukrainian strikes on Russian refineries have tightened supplies, forcing refiners to maintain high crude processing rates.
- Based on four days of trading in the Mean of Platts Singapore, diesel prices are projected to rise P2 to P2.50 per liter, while gasoline prices may drop P1 to P1.50 per liter.
- House of Representatives members Migz Villafuerte and Luigi Villafuerte are pushing House Bill 9367 to establish a Philippine Strategic Petroleum Reserve System shielding Filipinos from volatile price swings.
- Maharlika Investment Corp. and the Philippine National Oil Co. signed a memorandum to build a Bataan tank farm targeting one million barrels by 2028. Brig. Gen. Christopher Abrahano ordered police intensification after arresting four individuals for allegedly selling 172 liters of illegal fuel.
24 Articles
24 Articles
The Ministry of Infrastructure and Energy announced that fuel prices at gas stations outside motorways will change at midnight from Monday to Tuesday. A liter of 95-octane gasoline will fall by 7.5 cents to 1.627 euros, while the price of a liter of diesel will increase by 1.2 cents to 1.935 euros. A liter of heating oil will also increase by the same amount, and will now cost 1.558 euros. See also: Police introduce pre-trial proceedings against…
Regulated fuel prices at gas stations outside motorways will change at midnight. A liter of 95-octane gasoline will drop by 7.5 cents, to 1.627 euros, while the price of a liter of diesel and heating oil will increase by 1.2 cents, to 1.935 and 1.558 euros, respectively.
The ACP estimated a drop of eight cents per litre, but the rise of the ISP and the effect of VAT will mitigate the relief. Brent reaches 117 dollars, maximum since April.
Diesel prices set to rise, gasoline rollback
DIESEL prices are expected to go up, while the cost of gasoline is projected to go down next week, local oil industry sources said Friday.Diesel prices, they said, are expected to increase from P2.00 to P2.50 per liter, while gasoline prices are projected to decline from P1.00 to P1.50 per liter.Sources said that these estimates are based on the four-day trading of Mean of Platts Singapore, the pricing basis of refined goods in Southeast Asia…
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