Fuel Price Hike Expected Tomorrow October 24, 2023

Hey there, fellow road warriors! It’s that time again when we need to brace ourselves for a fuel price hike in the Philippines. This is your fuel industry insider, bringing you the latest on pump prices in the country.

Ongoing Israel Conflict Raises Fuel Prices

So, here’s the scoop: Brace yourselves, because it looks like fuel prices are going up this week. Why, you ask? Well, one of the key reasons is the ongoing conflict in Israel. Unioil, those price-predicting wizards, are saying we might see diesel prices going up by about P1.30 to P1.50 per liter. 

Gasoline, on the other hand, could increase by P0.90 to P1.10 per liter. That’s quite a pinch at the pump.

But wait, there’s more. Another oil industry insider spilled the beans, and they’re thinking we could be in for an even steeper hike. We’re talking more than P1 extra for both diesel and kerosene. Gasoline could go up by P0.85 to P1.10.

Price Adjustment Starts Tomorrow

Now, for the part you’ve all been waiting for. The final prices will be revealed by the oil companies on Monday (today), and these changes will kick in the very next day. So, be prepared to dig a little deeper into your pockets.

Image Source: Fuel Price Update Philippines

If this all pans out as predicted, we’re looking at gasoline prices climbing for the second week in a row. Meanwhile, diesel is saying goodbye to two weeks of rollbacks, and kerosene is ending its four-week streak of price drops. So, that’s the lowdown on fuel prices in the Philippines. Keep an eye on those pumps and drive safe, everyone!

In the past week, our local oil companies played with the prices at the pump, resulting in a mixed bag of changes. Gasoline saw an increase of P0.55 per liter, while both diesel and kerosene enjoyed a decrease of P0.95 per liter.

Now, let’s break it down further. According to the Department of Energy (DOE), these tweaks meant that for this year so far, gasoline prices have climbed by a total of P12.80 per liter. Diesel hasn’t been as lucky, with a net increase of P10.40 per liter, and kerosene has gone up by P4.99 per liter.

And there’s more to the story! The DOE’s watchful eye spotted diesel and its related products in the NCR, ranging from P57.80 to P70.75 per liter from October 17 to 19. If you’re more into gasoline, prices varied from P57.10 to P85.45 per liter, depending on the RON or research octane number of the fuel.

So, there you have it, the nitty-gritty on last week’s fuel price shuffle. Keep an eye out for those numbers at your local gas station!

Tune Up Your Preparations

With these expected price hikes in the country, here is some advice to keep your engines running smoothly.

First, consider carpooling or using public transport when possible to save on fuel. Keep your vehicle well-maintained; regular check-ups, properly inflated tires, and a clean air filter can make a big difference in fuel efficiency.

Planning your trips and avoiding rush hour traffic can also help you save on that precious petrol. And of course, keep an eye out for discounts or loyalty programs at your preferred gas stations to soften the blow. Stay smart and stay on the road, folks!

🚗💨 #FuelSavings #DriveSmart #PHFuelPrices