Fuel Prices Dip Tuesday, Aug. 4; LPG Prices Rise in August

Motorists in the Philippines are set to benefit from lower fuel prices starting August 4, with reductions in gasoline, diesel, and kerosene. However, households relying on liquefied petroleum gas (LPG) for cooking will face increased costs this month. According to an advisory from the Department of Energy (DOE) issued on Monday, all grades of gasoline—RON 91 (regular unleaded), RON 95 (premium unleaded), and RON 97 (high octane unleaded)—will see a price decrease of P0.73 per liter for the week of August 4 to 10. Diesel prices, including Diesel Plus, will also go down by P0.60 per liter, while kerosene prices will be cut by P2.09 per liter. In contrast, LPG prices are expected to rise by a maximum of P3.67 per kilogram for August. This translates to an increase of approximately P40.38 for an 11-kilogram cylinder. The DOE stated that these adjustments are based on movements in the global oil market, influenced by ongoing developments in the Middle East that continue to affect worldwide oil supply and prices. The agency emphasized its ongoing efforts to ensure adequate oil supply and shield consumers from the impact of international energy market volatility. These price shifts have direct implications for the Philippine economy, particularly affecting transportation costs and household budgets. While the decrease in gasoline prices offers some relief to vehicle owners, the rise in LPG prices signifies higher cooking expenses for many families, especially those in lower income brackets. LPG is a widely used cooking fuel across the Philippines, making its price fluctuations a significant concern for national household expenses.