Fuel retailers will implement a new round of price changes for petroleum products starting Tuesday, December 10.
According to advisories from Seaoil and CleanFuel issued on Monday, gasoline prices will rise by 40 centavos per liter. In contrast, diesel and kerosene prices will decrease by 50 centavos and 75 centavos per liter, respectively.
Rodela Romero, Director of the Department of Energy‘s Oil Industry Management Bureau, explained that the increase in gasoline prices could be attributed to ongoing geopolitical tensions in the Middle East, particularly the conflict between Israel and Hezbollah.
She also noted that decisions by OPEC+, a coalition of the Organization of the Petroleum Exporting Countries and other major oil producers, including Russia, to delay planned output increases may further impact fuel price movements.
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