Gas, kerosene prices up, diesel down

In yet another mixed adjustment of pump prices, gasoline will increase by P1.56 per liter and kerosene by P1.77 per liter, while diesel will be rolled back by P3.01 per liter, beginning on Tuesday, according to the Department of Energy (DOE).

Rino Abad, director of the DOE’s Oil Industry Management Bureau, pointed to positive developments, including the G7 countries’ agreement to release 100 million barrels of petroleum products from their emergency reserves.

Jetti Petroleum Leo Bellas also said over the weekend that the further rise in oil prices was curbed following US President Donald Trump’s statement that they would not launch new attacks against Iran before the midterm elections.