ADVERTISEMENT
Manila Bulletin devider Business devider Gasoline, kerosene prices to go up next week

Gasoline, kerosene prices to go up next week

Published Mar 16, 2024 01:46 am

At A Glance

  • Prior to the adjustments next week, a monitoring report of the Department of Energy (DOE) has shown that price fluctuations since the start of the year already logged net increases of P5.45 per liter for gasoline and P3.80 per liter for diesel; then P0.25 per liter reduction for kerosene.

An earlier-anticipated rollback in pump prices had been demolished after Friday (March 15) trading, hence, the prices of gasoline and kerosene commodities have been calculated to go up slightly next week, according to the oil companies.

The industry players estimated that the price of gasoline products will climb by P0.05 to P0.45 per liter; while the price of kerosene will either be unchanged or will rise by P0.30 per liter.

The price swing for diesel, on the other, is seen in either direction -- entailing that the cost of this commodity will either remain steady or there will be a rollback or increase of P0.30 per liter.

The oil firms explained that there is still a chance for diesel prices to track uptrend because of the lingering market premium due to the Middle East tension, although the actual calculation based on the Mean of Platts Singapore (MOPS) index will be a reduction.

If referenced mainly on the MOPS-linked trading outcomes, the price adjustments by Tuesday (March 19) would have been increases of P0.05 per liter for gasoline and P0.047 per liter for kerosene; while prices for diesel will supposedly decline by P0.285 per liter.

Prior to the adjustments next week, a monitoring report of the Department of Energy (DOE) has shown that price fluctuations since the start of the year already logged net increases of P5.45 per liter for gasoline and P3.80 per liter for diesel.

In the case of kerosene products, this is still in a better position with year-to-date aggregate reduction of P0.25 per liter, as reckoned from the past 11 weeks of cost movements already implemented this 2024.

According to experts, the climb in global prices last week had been partly attributed to the drone strikes of Ukraine into oil refineries in Russia, as well as reports of inventory decline in the United States.

These two major events prompted international benchmark Brent crude rising to $85 per barrel again last week; although there have been factors in the Asian market that somehow tapered off price adjustments to a leaner scale.

Market sentiments had also been lifted following continued commitment of the Organization of the Petroleum Exporting Countries and ally-producers (OPEC+) for voluntary output cuts of 2.2 million barrels per day, although Russia has indicated plans to defy that by increasing its crude exports instead.

Related Tags

Oil prices Department of Energy (DOE) Mean of Platts Singapore Organization of the Petroleum Exporting Countries geopolitics
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.