Gasoline higher by P.90/L this week, other fuel products also up

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AFTER LAST week’s decline, the prices of petroleum products will resume their climb this week, with gasoline recording its biggest increase so far this year. Oil companies announced that prices of gasoline products will rise by P0.90 per liter (/L). Diesel brands will increase by P0.55/L, while kerosene will be up by P0.85/L. Most of the companies that sent their advisories as of late afternoon on Monday said they would impose the price hike at 6:00 a.m. today. Last week, they cut the per liter prices of gasoline, diesel and kerosene by P0.60, P0.35 and P0.20, respectively. So far this year, the prices of petroleum products reached their highest in the second week of January. With Tuesday’s increase, the year-to-date adjustments will stand at a net increase of P1.50/L for gasoline, P2.45/L for diesel and P1.55/L for kerosene. — Victor V. Saulon