Prices of petroleum products are likely to further go up over the next two months due to high global demand, according to the Department of Energy (DOE).
DOE Oil Industry Management Bureau assistant director Rodela Romero, in a report by INQUIRER.net, said the cost of diesel, kerosene and gasoline usually increases in the second half of the year because of “an increase in demand.”
“Therefore, whatever developments in the international oil market would just reflect in the domestic pump price.”
Yesterday, Aug. 15, oil firms implemented another hike in pump prices, marking a sixth consecutive week of price increases for fuel.
The prices per liter of gasoline increased by P1.90, kerosene by P2.50 and diesel by P1.50.
“Consumers may use their power of choice to avail [themselves] of the best prices and services offered by the retail stations or gasoline stations,” Romero said.IMT
