PRICES of petroleum products are expected to increase at the start of 2018 following a rise in the price of oil in the international market, the Department of Energy (DoE) announced on Sunday. In an advisory, the DoE said that the price of diesel may increase by about 60 centavos per liter, gasoline by about 15 centavos per liter, and kerosene by about 55 centavos per liter. Meanwhile, the DoE enforced a price freeze for kerosene and household liquefied petroleum products (LPG) in areas which have been put under a state of calamity because of the recent storms. The DoE said the price freeze would be applicable for 15 days and would take effect a day after the declaration of a state of calamity has been made. The DoE assured consumers that it was closely monitoring oil trading in the global market and was coordinating with the industry players in the implementation of a price freeze on certain energy products being sold in disaster-hit areas.

Source: Manila Times December 31, 2017 12:00 UTC