THE price of gasoline rose on Tuesday, Dec. 3, but that of diesel and kerosene were rolled back.Gasoline now costs 90 centavos more per liter. Diesel is down by 20 centavos, and kerosene by 40 centavos.Oil industry sources attributed the price shifts to a possible US-brokered ceasefire between Israel and Hezbollah, the downtrend in China's consumption, Organization of Petroleum Exporting Countries production cuts, and the easing of the output curbs that could begin gradually in April 2025.OPEC and its allies are said to be discussing further delaying a planned oil output hike that was supposed to start in January, because of global energy market conditions and matters related to the production of crude oil, its flow to markets, and meeting demand.This year, gasoline had a net increase of P11.35 per liter and diesel P9.55 per liter.The price of kerosene has fallen by P1.90 per liter.
