Motorists should brace for another major fuel price adjustment this week, as the Department of Energy (DOE) announced significant increases in diesel and kerosene prices effective June 9 to 15.
Based on the DOE Oil Industry Management Bureau’s advisory dated June 8, diesel prices are set to increase by P3.77 to P5.77 per liter, while kerosene prices may rise by P6.10 to P8.10 per liter.
Gasoline prices, meanwhile, may either roll back by as much as P1.70 per liter or post a slight increase of up to P0.30 per liter.
The government said oil companies are required to comply with the mandated fuel price adjustments amid the ongoing state of national energy emergency.
Despite the looming price hikes, the DOE assured the public that the country maintains sufficient fuel reserves. As of June 5, the country’s total fuel inventory is projected to last for more than 47 days.
DOE data showed gasoline supply is expected to last 44.81 days, diesel 45.21 days, kerosene 143.09 days, jet fuel 73.25 days, fuel oil 41.01 days, and LPG 45.04 days.
Authorities continue to monitor global oil market movements and domestic supply conditions as consumers face increasing fuel costs nationwide.
