The Department of Energy (DOE) said that diesel and kerosene prices are projected to rise by over P2 per liter, as reported by Philstar Biz. The estimated increase follows a period of volatile global oil prices.
According to the DOE’s latest fuel price forecast, diesel and kerosene may see a per-liter hike of P2.10 to P2.30. This marks a return to exact adjustments after recent weeks of mixed price movements.
The impending increase is expected to affect transportation and household costs, as the Philippines heavily relies on imported fuel. Analysts will watch global crude trends for further price direction.