• CHERYL G. CRUZ
The pump prices of petroleum products could increase by as much as P5 a liter, effective tomorrow, Sept. 8, still due to continued hostilities in the Middle East, oil companies announced over the weekend.
Diesel could increase by P5.20 to P6/L, gasoline by P4 to P5/L, and kerosene by P5.30 to P6/L. Exact price adjustments will be known today, Sept. 7.
“Oil prices rose as the resumption of hostilities between the US and Iran over mining in the Strait of Hormuz raised concerns about more disruptions to energy flows from the Middle East,” Jetti Petroleum president Leo Bellas was quoted as saying in a Philippine News Agency report Sept. 4, adding that “tightening global diesel inventories and refinery disruptions around the world have further pushed fuel prices higher.”
The Department of Energy, meanwhile, announced a decrease in cooking fuel cost this month, equivalent to around P4.40 for a standard 11-kilogram cylinder.
“For families who rely on LPG to prepare their meals every day, every peso saved can go toward other household needs,” Energy Secretary Sharon Garin earlier said. “The reduction may be modest, but consumers should benefit whenever market conditions bring costs down.”
Domestic retail prices of an 11-kilogram LPG cylinder are estimated to range from P1,031 to P1,536, depending on the brand, location, and other market factors, the DOE said. | CGC
