Pump prices to fall Sept. 29 after 3 straight weeks of hikes
MANILA, Philippines — Local pump prices are set to decline this week, ending September with lower fuel costs for motorists and the transport sector after three consecutive weeks of increases.
The Department of Energy said Monday, September 28, that the following price adjustments will take effect starting 6 a.m. Tuesday, September 29:
- Diesel: down P7.57 per liter
- Kerosene: down P5.85 per liter
- Gasoline: down P0.24 per liter
The adjustments will remain in effect until Monday, October 5.
The rollback follows three straight weeks of price hikes across major petroleum products, which pushed some pump prices above P100 per liter. Pump prices had climbed sharply this month, with diesel rising by a cumulative P18.31 per liter, kerosene by P16.67 and gasoline by P15.25, according to DOE figures.
DOE Oil Industry Management Bureau Director Rino Abad said last week that global oil prices eased after Saudi Arabia announced that 40% of its oil export operations would resume.
Higher fares for jeepneys and other public utility vehicles took effect on September 28, while transport groups also mounted strikes to demand relief from rising fuel costs.
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