• CHERYL G. CRUZ
Expect fuel prices to go up effective tomorrow, April 22, following two weeks of rollbacks.
Oil companies announced over the weekend that diesel could increase by P1 to P1.20 per liter, gasoline by P1.30 to P1.50/L, and kerosene by P0.80 to P1.10/L.
Exact adjustments will be known today, April 21.
The increase was mainly due to heightened global economic worries, with new sanctions imposed by the US to curb oil exports, and the pledges of several members of OPEC (Organization of the Petroleum Exporting Countries) to curb output to compensate for pumping above agreed quotas, reports said.
Last week, oil companies slashed the per-liter prices of diesel by P2.90, gasoline by P3.60, and kerosene by P3.30.
Since the start of this year, the Department of Energy Oil Monitor showed that gasoline logged a total net increase of P4.55/liter, diesel at P4.45/L, and kerosene at P0.40/L. | CGC
