Cost of diesel may rise by P4 per liter this week

The Department of Energy on Sunday confirmed that the price of diesel may shoot up by P4 per liter this week.

DoE Oil Industry Management Bureau Director Rino Abad said “yes” when asked if the cost of diesel may rise beyond P4 per liter.

Reports said that several fuel companies had said that the pump prices of diesel may climb by P4.10 per liter this week.

“May possibility talaga na aabot ng ganu’ng estimate ang diesel (There is really a possibility that the price hike for diesel may go up as much),” Abad said in a radio interview.

The cost of kerosene may rise between P2.70 – P3 per liter while gasoline may increase by P0.50 per liter.

Earlier, OIMB Assistant Director Rodela Romero said that based on industry estimates from the oil trading from July 31 to August 3, 2023, the price per liter of diesel may increase by up to P3.60, P2.65 for kerosene and P0.15 to P0.35 for gasoline.