Another round of oil price hikes has been announced before the end of August, according to a Monday report by RH 15 Jecelle Ricafort.

In a press briefing, Department of Energy (DOE) Undersecretary Sandy Sales said gasoline will see a price increase of ₱1.08/L, while diesel will rise by ₱2.31/L, and kerosene by ₱0.95/L.

The official reminded that oil firms are prohibited from implementing price increases exceeding the DOE’s declared hike to take effect tomorrow, August 25.

Sales said the country’s fuel inventory from August 21 can still cover over 47 days.

The country currently has 44 days’ supply of gasoline, 47 days’ supply of diesel, 75 days’ supply of jet fuel, 54 days’ supply of fuel oil, and 34 days’ supply of liquefied petroleum gas (LPG).

Meanwhile, DOE – Oil Industry Management Bureau Director Rino Abad assured that the fuel subsidy program will continue until September.

At present, there are 3,382 gas stations participating in the fuel subsidy program, benefitting approximately 100,000 public utility vehicle (PUV) drivers.