About P5/L hikes for gasoline, diesel

Local retailers again raised fuel prices by as much as P5.68 per liter on Sept. 15. Gasoline went up by P5.68, diesel by P4.31 and kerosene by P4.62.

Energy Secretary Sharon Garin also said Dubai oil prices had surpassed the threshold to trigger a possible suspension of the fuel excise.

According to Rino Abad, director of the Department of Energy’s Oil Industry Management Bureau, the 30-day trading period resulted in an average Dubai crude price of $99.41 per barrel as of Sept. 11.

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“So that’s for them to decide whether to do … total or no suspension, or partial suspension,” Garin said.