- CHERYL G. CRUZ
Another round of increase in the prices of petroleum products will take effect Oct. 18, the second for this month, following upward movement in the international oil market.
Oil companies announced Monday a uniform increase in the prices of diesel at P2.70 per liter, gasoline by P0.80L, and kerosene by P2.90L.
They also implemented a per liter increase in the price of diesel by P6.85, gasoline by P1.20, and P3.50 for kerosene, effective Oct. 11.
These resulted in the year-to-date total adjustments to stand at a net increase of P35.80 per liter for diesel, P15.65L for gasoline, and P26.75L for kerosene, the Department of Energy Oil Monitor showed.
“Crude oil prices surged to a one-month high after the OPEC+ announced a two million b/d (barrels per day) cut in the group’s production quotas from November, in an apparent move to boost oil prices,” the DOE said, adding that “the US White House expressed its disappointment towards the shortsighted decision and said it would consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices.”/CGC
