Manila: Fuel prices will either be slashed by up to PHP0.78 per liter or hiked by as much as PHP1.90 per liter this week, according to data released by the Department of Energy (DOE) on Monday.

According to Philippines News Agency, based on the updated range of price adjustments for this week, gasoline prices may decline by as much as PHP0.10 per liter or will increase by as high as PHP1.90 per liter. Diesel prices may see a rollback of as much as PHP1.16 per liter or an increase of up to PHP0.84 per liter. Similarly, kerosene may either be reduced by PHP0.78 per liter or hiked by PHP1.22 per liter.

In an advisory, Seaoil stated it will increase gasoline by PHP1.65 per liter, diesel by PHP0.84 per liter, and kerosene by PHP1.22 per liter effective 6 a.m. Tuesday. Petron announced it will increase gasoline prices by PHP1.70 per liter, diesel by PHP0.80 per liter, and kerosene by PHP1.20 per liter.

Energy officials mentioned that the movement of fuel prices is somewhat subdued following positive developments in the Middle East, as the United States and Iran returned to peace negotiations this week.