Metro Manila, Philippines – Fuel prices pause the weekly spike on Tuesday, Aug. 4, while liquefied petroleum gas (LPG) surge this month, the Department of Energy (DOE) said.
The agency said kerosene prices will decrease by ₱2.09 per liter, and lower adjustments for diesel and gasoline at ₱0.73 per liter and ₱0.60 per liter, respectively.
The DOE attributed the price cut to recent developments in the Middle East conflict.
“We still have to brace ourselves and be prudent in our spending as far as fuel is concerned kasi po hindi po natin alam ano pang mangyayari pa sa mga susunod na linggo [because we do not know what could happen in the coming weeks], ” Energy Secretary Sharon Garin cautioned.
Meanwhile, prices of LPG, commonly used for household cooking, will cost ₱3.67 per kilogram more, equivalent to ₱40.38 for an 11-kilogram cylinder, the DOE said.
Energy Undersecretary Alessandro Sales said the increase was driven by the higher Saudi Aramco contract price, the benchmark used for LPG pricing in the country.
“Ang price nito noong July ay $594 per metric ton. Tumaas para sa Agosto. Ito ay nasa $634 per metric ton,” Sales said.
[Translation: Its price in July was $594 dollars per metric ton. It increased for August to $634 per metric ton. ]
The DOE assured the public that the country has sufficient oil supply.
