THE prices of diesel and kerosene surged Tuesday, July 14, as the global market reacted to the recent tensions between the US and Iran.
The cost of diesel will go up by P4.60 per liter, kerosene by P2.30 per liter, and gasoline by P1 per liter.
The Department of Energy said the “renewed geopolitical tensions in the Middle East have once again raised concerns over global oil supply disruptions."
"If things do not settle down, we are looking at once more changing the announcements on price adjustment next week and that it won’t have any price ranges anymore, and just one figure," Energy Secretary Sharon Garin said in an online media briefing.
Last week, the per-liter price of diesel rose by P3.30 per liter, kerosene by P1.75, and gasoline by 25 centavos. ED PAOLO SALTING
