Fuel prices rebound after steep rollback



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Motorists will face higher pump prices starting Tuesday as fuel prices rebound a week after steep rollbacks.
The Department of Energy (DOE) said Monday gasoline prices will rise by as much as P2.49 per liter, while diesel and Diesel Plus will increase by up to P3.84 per liter.
Kerosene will post the biggest increase at P5.01 per liter.
The latest increases will claw back much of last week’s reductions of P4.70 per liter for gasoline, P4.30 for diesel, and P4.88 for kerosene.
Based on prevailing retail prices in the National Capital Region and factoring in the two consecutive adjustments, RON 91 gasoline could range from P66.69 to P91.14 per liter once the new prices take effect.
RON 95 gasoline could sell from P67.69 to P96.96 per liter, while higher-octane RON 97/100 could range from P69.26 to P96.56 per liter.
Regular diesel could range from P79.54 to P97.74 per liter, while Diesel Plus could sell from P90.54 to P101.14 per liter.
Kerosene, which will see the steepest increase this week, could rise to between P99.13 and P136.23 per liter.
The latest adjustment will erase a significant portion of the relief motorists received last week.
The P2.49-per-liter gasoline hike will reverse more than half of the previous P4.70 rollback, while the P3.84 diesel increase will wipe out nearly 90 percent of last week’s P4.30 reduction.
For kerosene, the P5.01-per-liter increase will more than erase last week’s P4.88 rollback, putting prices P0.13 per liter above their level before the reduction.
Despite the renewed increases, the DOE said the sharp price swings seen in recent weeks may become less likely, although consumers should expect week-to-week volatility to persist.
“The way it is looking, the large price jumps we have been seeing appear less likely to happen again, but the week-to-week volatility will still be there,” Energy Undersecretary Alessandro Sales said.