Diesel Forecast to Increase by Around P11 Per Liter, Says DOE

'Rough week' ahead, says Energy chief.
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It will be a "rough week again" for Filipino consumers with the expected fresh round of fuel price hikes, the country's energy chief said Monday, as petrol prices soared worldwide due to the war between Russia and Ukraine.

Filipinos can expect diesel prices to go up by around P11 per liter and gasoline prices to increase by around P6 per liter by Tuesday, Energy Sec. Alfonso Cusi said.

"We are seeing the increase will be less than P12 for diesel and less than P7 for gasoline. That is because of the correction in the world price market," Cusi said in an interview on CNN Philippines' 'The Source'.

Last week, pump prices jumped by P5.85 per liter for diesel and P3.60 for gasoline, bringing the per liter price to P70. 

Cusi said the energy department has appealed to oil companies to stagger the pass-on of price hikes but many were not receptive to the call.

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"They are not receptive to it. In fact, they brought up to our attention their problem also... In fact they are asking our government if they could be helped with the financing," Cusi said.

The government earlier approved fuel subsidies for public utility vehicle drivers this month to help cushion the impact of soaring prices. Another round of fuel subsidies for April is under study.

READ:

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