Diesel up P8.82 per liter in third major September fuel hike
Over three weeks, diesel will have climbed by P18.31 per liter.
Manila, Philippines - Fuel prices in the Philippines are set to surge by up to P8.82 per liter this week, marking the third consecutive significant hike this September. The Department of Energy (DOE) announced that diesel prices will rise by P18.31 per liter over the past three weeks, while kerosene and gasoline will see increases of P16.67 and P15.25 respectively.
On Tuesday, September 22, these adjustments will become effective. Energy Secretary Sharon Garin had previously certified that the one-month average price of Dubai crude had surpassed the $80-per-barrel mark, triggering the government's consideration of suspending or reducing excise taxes on petroleum products. The DOE officially conveyed this certification to the Development Budget Coordination Committee.
The escalating conflict in the Middle East, particularly the drone attack on Saudi Arabia's East-West Pipeline or Petroline, is attributed as a major factor driving the persistent rise in global oil prices. This ongoing turmoil has prompted the DOE to anticipate elevated fuel prices in the Philippines for several weeks.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
