According to Philstar Biz, diesel and kerosene prices are set to increase by more than P2 per liter starting Tuesday, July 14. The price hike reflects the global oil market trends and adjustments in local fuel excise taxes.
Industry analysts attribute the increase to rising crude oil prices in the international market, driven by supply concerns and recovering demand. The Department of Energy has yet to issue an official advisory, but oil companies have already announced the adjustments effective next week.
The price hike is expected to impact transportation costs and consumer goods, as fuel is a key input for logistics and manufacturing. Commuters and businesses are advised to plan for higher expenses in the coming weeks.