A mixed price adjustment for petroleum products was implemented today, with diesel prices seeing a significant decrease while gasoline prices experienced a hike.
The Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) reported that the price of diesel dropped by ₱1.15 per liter, while kerosene prices also saw a reduction of ₱0.90 per liter.
However, the price of gasoline increased by ₱0.70 per liter.
The DOE cited several factors contributing to the price adjustments, including the increase in U.S. oil inventories, President Donald Trump’s threat to raise tariffs, and the ongoing Chinese New Year holiday.
