UPDATE: September 26, 2022. A sigh of relief, for now: The Philippine peso may still be dropping value against the US dollar, but so far, fuel prices are trending downward at least for another week.
Here are the official fuel price adjustments for the week of September 27 to October 3, 2022: Diesel prices are going down by P1.25 per liter, while gasoline prices are also rolling back by P1.65 per liter. That’s after a P4.515/L decrease in diesel prices last week, and no change for gasoline.
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Incidentally, the widespread transport fare hikes announced on September 16 are set to be implemented on October 3. Among the reasons for the fare hike is the continuous increase of fuel prices since the start of the year.
As of September 20, gasoline prices have gone up by a net P16.50/L since the beginning of 2022, with prevailing retail pump prices ranging from P66.55 to P73.00 per liter for 91-octane gasoline. Diesel, meanwhile, has had a net price increase of P30.65/L, with current pump prices ranging from P68.00 to P84.79 per liter. Finally, kerosene has seen a P29.90/L net increase since the start of the year.
Philipine fuel prices, September 27 to October 3, 2022:
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