• CHERYL G. CRUZ
The third straight week of price increases for diesel and kerosene will take effect on Oct. 8, while there will be no movement for gasoline.
Oil companies said Oct. 7 that the pump prices of diesel will increase by P1.20 per liter, and kerosene by P0.70/L.
The Department of Energy said the price of Dubai crude has increased by around $0.20 per barrel, while international prices of gasoline, diesel, and kerosene also moved upward by about $0.10, $1.20 and $0.50 per barrel, respectively.
Oil companies also implemented an increase of P0.45/liter for gasoline, P0.90/liter for diesel, and P0.30/liter for kerosene, effective Oct. 1.
The latest adjustments resulted in a net increase of P6.40/liter and P2.85/liter for gasoline and diesel, respectively, since the start of this year. Kerosene, meanwhile, logged total net decrease of P6.05/liter, as per the DOE Oil Monitor.
The department also reminded that, effective Oct. 1, downstream oil industry participants, including refineries, petroleum product distributors, petrochemical plants, natural gas distributors, and retail outlets, should have increased to three percent from two percent the coco methyl ester (CME) blend in all diesel fuel sold nationwide.
This is to promote economic growth, foster environmental stewardship, and support cleaner energy utilization, the DOE said in a statement, adding the increase in the CME blend would benefit coconut farmers, biodiesel producers, and other stakeholders in the coconut industry.
It said that around 900 million additional coconut are needed to produce 100 to 120 million liters of CME requirements to satisfy a one percent mandatory increase in CME blend.
“Consumers will also benefit, with an increase in mileage from the average of 10 kilometers per liter of diesel, to less than 11 kilometers. With cars being a major source of pollution, including harmful particulate matter that affects public health, increasing the use of environmentally-friendly biodiesel offers a crucial solution,” the DOE said.
This shift will not only help mitigate climate change but will also contribute to the protection of public health. The CME blend will further increase to four percent by Oct. 1, 2025 and to five percent in 2026, the DOE added. | CGC
