Hefty hike on fuel prices this week

OIL COMPANIES will implement a hefty price increase for all petroleum products this week, with diesel registering the biggest hike at P1.20/L. It is diesel’s biggest price jump so far this year, matching the same rise during the second week of May. Gasoline and kerosene prices will increase by P0.95/L. All the companies that sent their advisories as of 5:00 p.m. on Monday scheduled the adjustment at 6:00 a.m. on Tuesday, Sept. 4. The price increase follows the movement of prices in the international market, from which local companies source their petroleum products. During the weekend, oil firms that sell liquefied petroleum gas (LPG) advised of a P1.95 per kilogram increase, or a P21.45 jump in the price of each 11-kilogram cylinder. AutoLPG also increased by P1.10/L on Saturday. — Victor V. Saulon