Gas prices to rise again this week, but diesel to go down

An attendant updates the prices of fuel products at a gasoline station in Makati City. —Richard A. Reyes/file photo

MANILA, Philippines — The Department of Energy (DOE) and industry players are seeing a mixed movement in the pump prices of petroleum products this week on uncertain demand globally.

Rodela Romero, director of the DOE Oil Industry Management Bureau, said gasoline prices may increase by up to P0.20 per liter.

READ: Fuel price rollback effective Tuesday, July 16

Diesel prices could be slashed by P0.30 to P0.60 per liter, while kerosene may have a rollback of P0.60 to P0.70 per liter, Romero said.

An industry source said in a text message to the Inquirer they expected gasoline prices to either have no movement or a “slight” hike, but the price of diesel may dip by up to P0.60 per liter.

Last week, fuel retailers slashed the price per liter of gasoline by P0.60, diesel by P0.95, and kerosene by P1.15.