ABS-CBN
Fuel price hike expected on Christmas week
Filipino motorists should brace for fuel price increases this Christmas season, with adjustments expected to take effect on Tuesday, December 24.
The anticipated hikes are P0.30 to P0.50 per liter for gasoline, P1.20 to P1.40 per liter for diesel, and P0.70 to P0.90 per liter for kerosene.
The Department of Energy attributes the price adjustments primarily to a stronger US dollar, which has reached its highest point since 2022.
Ongoing Middle East tensions and sanctions on Russia are also cited as factors contributing to oil price volatility and concerns about supply.
Despite these international factors, domestic supply for gasoline is expected to remain adequate.
These new increases follow a previous hike of P0.80 per liter for both gasoline and diesel implemented earlier this week.
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Filipino consumers will experience increased fuel costs starting December 24, with several oil companies implementing price hikes.
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