Metro Manila (CNN Philippines, December 22) — The motoring public will have to pay more for fuel products during the last week of 2023 following a surge in oil prices as companies halt shipments through the Red Sea, according to the Department of Energy.
In a statement on Friday, DOE-Oil Industry Management Bureau Director Rodela Romero said the following per liter price increases may be implemented next week, starting Tuesday:
Gasoline – ₱1.40 to ₱1.60Diesel – ₱1.40 to ₱1.60Kerosene – ₱1.60 to ₱1.80“Said adjustments were tempered by signs of unexpected build-up in US crude stockpiles and talks over a potential ceasefire in the Israel-Hamas war,” Romero said.The DOE official blamed the upward movements on the “growing avoidance of the Red Sea by oil companies and tanker owners as a rebel group ramped up attacks on vessels in the region.”Last month, 17 Filipino seafarers were among the crew taken hostage by the Houthi rebels in the Red Sea.
