Philippines Gas Prices Set for Another Steep Jump This Week

MANILA, Philippines — Pump prices at some fuel stations in the Philippines are set to climb further above P100 per liter this week as another round of increases of more than P4 per liter takes effect Tuesday. The Department of Energy (DOE) announced on Monday the following upward price adjustments, effective 6 a.m. Tuesday: Gasoline: P4.10 per liter increase Diesel: P4.50 per liter increase Kerosene: P4.40 per liter increase Last week, gasoline prices already rose by P4.69 per liter, diesel by P5.18, and kerosene by P5.58. This brings the total increase over the past two weeks to P10.37 per liter for gasoline, P9.49 for diesel, and P10.20 for kerosene. With the latest adjustments, prices of some gasoline and diesel products in Metro Manila are expected to climb further above P100 per liter, depending on the fuel station and area. The DOE continues to cite tensions in the Middle East as a major factor affecting global oil prices and, consequently, domestic pump prices. Transport groups staged a two-day strike on Monday and Tuesday to demand immediate government action on rising fuel prices. The LPG Marketers Association, meanwhile, submitted a written appeal to Energy Secretary Sharon Garin urging her to recommend the temporary suspension of excise taxes on LPG and other petroleum products.