• CHERYL G. CRUZ
The pump prices of diesel and gasoline are set to increase anew, effective tomorrow, Nov. 18, as tighter supply conditions persist.
Oil companies announced over the weekend that diesel and gasoline could increase by P1 to P1.30 per liter, while there is an ongoing price freeze in kerosene, along with other items considered as basic goods, since Nov. 7, following the declaration of a state of national calamity due to the impact of recent typhoons.
The exact adjustments will be known today.
This will be the seventh consecutive week of gasoline price hikes, and the fourth for diesel, following upward adjustments of P0.50/L and P1/L starting Nov. 11.
“Tighter supply conditions that persist partly due to US sanctions on some Russian oil producers are projected to increase domestic oil prices,” Jetti Petroleum president Leo Bellas said in a Philippine News Agency report, and noted “growing concerns that Western sanctions on Russian oil could further disrupt trade flows.” | CGC
