Motorists will see fuel price increases in the second week of January, following a rollback in the first week.
The Department of Energy estimates increases of P0.40 to P0.70 for gasoline, P0.75 to P1 for diesel, and P0.70 to P0.80 for kerosene.
The hike is attributed to OPEC+ production cuts, rising demand for heating fuels, and geopolitical risks.
The final price adjustments will be based on recent market trading.
The price changes will take effect on Tuesday.
Source: PhilNews24 | January 4, 2025
