Fuel price rollback of up P2.20/l set on July 1. INQUIRER FILE PHOTO
MANILA, Philippines — Motorists may have to brace for costlier fuel products in the first week of September. Gasoline prices are seen to rise for the third straight week.
In a public advisory Friday, Jetti president Leo Bellas said the increase in the price of a liter of diesel was expected at 80 centavos to P1. The price of gasoline might also rise by 40 centavos to 60 centavos a liter.
READ: Fuel price hike seen again this week
Estimates from the Department of Energy (DOE) likewise showed possible upward adjustments in pump prices. Diesel is seen posting an increase of more or less P1 per liter.
The DOE said gasoline and kerosene may also inch up by about 50 centavos to 60 centavos a liter.
READ: Gov’t orders DOE to ensure sufficient oil supply
“Crude oil and refined fuel prices have rebounded this week, driven by concerns of supply disruptions after Russia and Ukraine intensified their attacks on each other’s energy infrastructure, and worries that new US sanctions on Russia and buyers of Russian crude oil will restrict global supply flows,” Bellas said.
/rwd
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