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Diesel prices in the Philippines will rise by as much as P2.66 per liter effective May 5, marking the end of a temporary rollback. Jetti Petroleum announced a price hike of P2.60 for diesel and P2.20 for gasoline.
Seaoil also confirmed similar increases, raising diesel prices by P2.66 and gasoline by P2.21 per liter.
In a contrasting move, kerosene prices will decrease by P3.53 per liter.
Impact on Consumers
The upcoming price hikes come after a brief period of lower fuel costs, impacting transportation and goods prices. Consumers and businesses alike are preparing for the financial implications of these adjustments.
The fuel price adjustments reflect ongoing volatility in the global oil market.
Industry Analysts