Gasoline prices up again, diesel prices down on October 13
It’s the second week of increases for gasoline, though diesel prices are set to fall for a third consecutive week
It’s the second week of increases for gasoline, though diesel prices are set to fall for a third consecutive week
The mixed adjustment comes after price cuts last week, while China’s suspension of refined fuel exports threatens to tighten Asian supply further
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The fare increases were originally set in March but were suspended by President Ferdinand Marcos Jr. amid the conflict in the Middle East, which drove up global oil prices
The price cuts are welcome news for motorists, alongside the renewed suspension of excise taxes on LPG and kerosene
The upcoming hike marks the third straight week of substantial price increases at the pump
Refineries worldwide are operating at maximum capacity, with the US experiencing record retail diesel prices and low inventory levels, indicating a tight global diesel market
The increase follows last week’s big jump, when diesel rose by P10.68 per liter and gasoline by P3.65 per liter
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(1st UPDATE) The latest increase follows last week’s hike, marking the second straight week of rising fuel prices