CITY OF SAN FERNANDO --- The Department of Energy (DOE) said over the weekend that the pump prices of fuel are expected to increase again on Tuesday, April 16, 2024.
Rodela Romero, DOE Oil Industry Management Bureau assistant director, stated on the agency's fuel monitoring site that the price of diesel per liter will be jacked up from P0.80 to P1 per liter.
Kerosene prices will also go up from P0.85 to P1 and gasoline by P0.20 to P0.40 per liter.
Romero said the price hike, which will be the fifth in a row, is a result of the geopolitical movements particularly the Israel-Hamas conflict, the latest of which involved the killing of three sons of a Hamas leader in the Gaza Strip during an Israeli airstrike.
She added that the inventory buildup of crude and fuels in the United states also affects the oil prices.
Last Tuesday, fuel firms implemented a price hike, bringing the prices of gasoline to P1.10 per liter, P1.55 for diesel and P1.40 for kerosene.