By el Amigo
MANILA, Philippines — Diesel users can expect relief at the pumps starting Tuesday, October 13, as prices of the fuel drop by at least P3.01 per liter. Gasoline and kerosene prices, however, will move in the opposite direction.
Energy Secretary Sharon Garin said gasoline would increase by P1.56 per liter, while kerosene would go up by P1.77 per liter, according to the Department of Energy.
The contrasting adjustments come amid easing pressures in the international oil market.
Jetti Petroleum president Leo Bellas said over the weekend that Trump’s statement ruling out fresh attacks against Iran before the US elections helped temper further increases in global oil prices.
Bellas also pointed to reports of China restarting fuel exports after a brief halt during its Golden Week holiday. The resumption was expected to provide some relief to an already tight global fuel market.
Meanwhile, the country’s fuel inventory remains sufficient for about 51 days, providing a measure of supply security amid continuing movements in international petroleum prices.
ia/xf
