• CHERYL G. CRUZ
The pump prices of petroleum products will decrease this week, oil companies announced over the weekend.
The per-liter price of diesel could go down by P1.90 to P2, gasoline by P1 to P1.20/L, and kerosene by P1.70 to P2/L. Exact adjustments will be known today, Aug. 26.
The price fluctuation is still due to tensions in the Middle East and the escalation of the Russian-Ukraine war, which pose supply risks, the Department of Energy said in a statement, adding there was also a rise in US crude stocks on stronger than expected US economic data.
Total adjustments in gasoline and diesel since the start of this year stood at a net increase of P8.05/liter and P5.95/liter, respectively, while kerosene logged a net decrease of P2.15/liter, following the P1/liter hike for gasoline and kerosene, and P1.20/L for diesel, effective Aug. 20, the DOE added. | CGC
