Gas set for rollback; diesel to rise
The Philippine Department of Energy announced a gasoline price rollback alongside increases for diesel and kerosene starting Tuesday. The government is also focusing on building a strategic national oil reserve to mitigate the impact of global supply instability.
Why it matters
Fluctuating fuel prices directly impact inflation and consumer costs, while the push for a strategic reserve reflects concerns over long-term energy security in the Middle East.
GASOLINE users will get another round of rollback this week, while diesel prices will increase by more than P1 per liter, the Department of Energy (DoE) said on Monday.
In an advisory, the DoE said gasoline prices will decline by P0.30 per liter while diesel and kerosene prices will rise by P1.20 per liter and P0.50 per liter, respectively.
Seaoil Philippines, Inc. and Shell Pilipinas Corp. will implement the adjustments announced by the DoE starting on Tuesday (Oct. 27).
The latest adjustment marks the second straight week of declines for gasoline and a third consecutive week of increases for diesel prices.
Energy Secretary Sharon S. Garin said the country’s petroleum supply remains stable and could last for about 53 days. However, the government remains open to explore alternative resources for additional supply.
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