Gasoline up by P1.45/L, other fuel prices also higher this week

OIL COMPANIES are raising the prices of petroleum products this week, with gasoline prices increasing by P1.45 per liter (/L), one of the biggest price hikes in recent months. Diesel products will increase by P0.30/L while kerosene will be up by P0.40/L. The companies that sent their advisories as of early afternoon on Monday said they would impose the price hike at 6:00 a.m. on Tuesday, March 18. This week’s price increase for diesel and kerosene follows last week’s respite when the prices of both products were unchanged. Gasoline was up by P0.90/L last week. So far this year, the price of gasoline has been up save for a cut in the first week of February. Year-to-date adjustments stand at a net increase of P6.10/L for gasoline. Diesel and kerosene were also at a net increase of P4.65/L and P3.45/L, respectively. — Victor V. Saulon