Motorists should expect higher pump prices starting tomorrow, June 10, as fuel price increases take effect.
The Department of Energy’s Oil Industry Management Bureau, through Assistant Director Rodela Romero, confirmed a ₱0.60 per liter increase in gasoline prices.
Meanwhile, diesel will see a ₱0.95 per liter hike, and kerosene prices will go up by ₱0.30 per liter.
Among the factors being considered for the latest surge in fuel prices is ongoing geopolitical tension, including the war between Russia and Ukraine.
In addition, the existing nuclear deal between America and Iran is also influencing global oil prices.
Also contributing to price pressures are fears over the impact of wildfires on Canada’s oil production and a sharper-than-expected decline in U.S. crude inventories.
PISTON has previously organized a series of protests to highlight sectoral issues, including demands to scrap the Oil Deregulation Law, which they believe would ease the rising petroleum prices.
