Bad news for motorists: gas prices will increase on Tuesday. So, make sure to gas before then.
According to sources, gasoline will go up by Php 0.40 up to 0.70 per liter, diesel by Php 2.50 up to 2.80 per liter, and kerosene by Php 2.70 up to 2.80 per liter. The increase will take effect on Tuesday, August 23, 2022, at exactly 6:00 AM.
For the past few weeks, oil companies have been announcing rollbacks in fuel prices. This is the first increase after 7 straight weeks.
In an interview, Department of Energy Oil Industry Management Bureau Assistant Director Rodela Romero confirmed that diesel and kerosene may go up by over P2.00 per liter, while gasoline may slightly increase by more or less P0.25 per liter.
“Kadahilalanan lumaki ang pagbaba sa imbentaryo ng krudo ng United States,” Romero said.
The Department of Energy said net price increases since the start of the year for gasoline, diesel, and kerosene stood at Php 17.45, Php 29.10, and Php 24.30 per liter, respectively, as of Aug. 16.
As for the current prices, the latest data from the DOE shows that the price per liter of gasoline prices range from Php 65.05 to Php 75.76 per liter; diesel prices range from Php 71.90 to Php 78.30; kerosene prices range from Php 73.44 to Php 85.00 per liter.
