• CHERYL G. CRUZ
The pump prices of diesel and kerosene will decrease for the first time after more than a month of consecutive increases, while there will be a slight hike for gasoline.
Oil companies announced over the weekend that diesel will decrease by P2.80 to P3 a liter, and kerosene by P3.10 to P3.40/L, while gasoline may see a slight increase of up to P0.30/L.
The exact adjustments will be known today, Dec. 1.
Jetti Petroleum president Leo Bellas, in an earlier statement, said the big drop in diesel prices in the international market was due to “easing worries regarding the Russia-Ukraine war, with the US firm on hammering out a peace deal”.
Reports said the ceasefire could pave the way for the unwinding of Western sanctions against Russian supply. U.S. officials are set to meet with Russian leaders “on a possible plan to end the nearly four-year-old war in Ukraine”.
Meanwhile, the Department of Energy will conduct a virtual information, education, and communication (IEC) campaign on the Philippine Energy Labeling Program (PELP) for retailers on Dec. 10.
The IEC aims to support market transformation and educate retailers on the use of energy-efficient products and technologies through accessible and clear information provided via energy labels displayed at point of sale, the DOE said in an advisory. | CGC
