Energy Sec. advises public to manage fuel price expectations

Energy Secretary Raphael Lotilla advised the public to manage expectations regarding fuel prices, despite a recent rollback.

He noted a downtrend in global oil trading but cautioned that volatile external factors, such as the approaching winter months and geopolitical issues like the war between Ukraine and Russia, could cause prices to rise again.

Oil companies implemented a slight rollback on Tuesday, September 26, with gasoline and diesel prices decreasing by P0.20 per liter and kerosene by P0.50 per liter.

This rollback ended a streak of consecutive price increases for diesel and kerosene at 11 weeks, and for gasoline at 10 weeks.

Despite recent decreases, year-to-date net increases for gasoline, diesel, and kerosene remain significant as of September 18, 2023.

Lotilla encouraged the use of mass transportation and avoiding unnecessary trips to save on fuel costs due to price volatility.