Fuel prices dip Tuesday, Aug. 4; LPG prices rise in August

Motorists will see lower pump prices this week, while households using liquefied petroleum gas (LPG) will have to pay more for cooking fuel this month, according to the Department of Energy (DOE).

In an advisory issued Monday, the DOE said gasoline prices will be reduced by P0.73 per liter for all grades—RON 91 (regular unleaded), RON 95 (premium unleaded), and RON 97 (high octane unleaded)—for the week of August 4 to 10.

Diesel prices, including Diesel Plus, will likewise go down by P0.60 per liter, while kerosene prices will be cut by P2.09 per liter, the DOE said.

Meanwhile, LPG prices will increase by a maximum of P3.67 per kilogram, equivalent to P40.38 for an 11-kilogram cylinder, for August, according to the DOE.

The agency said the latest adjustments were based on movements in the global oil market amid continuing developments in the Middle East that continue to affect worldwide oil supply and prices.

The DOE said it continues to work to ensure adequate oil supply and protect consumers from the impact of volatility in the international energy market.— MCG, GMA News