• CHERYL G. CRUZ
The pump price of gasoline will increase by P1.20 per liter effective today, Dec. 9, while there will be no changes for diesel and kerosene for the week.
This will be the second straight week of increase for gasoline, due to lingering geopolitical issues.
Effective Dec. 2, gasoline increased by P0.20/L, while diesel and kerosene rolled back by P2.90/L and P3.20/L, effectively.
Jetti Petroleum president Leo Bellas said in a recent Philippine News Agency report that “geopolitical risks and tensions have kept the level of premium and freight elevated,” adding that “gasoline prices in Asia remain supported on tight supply and robust regional demand.”
“Gasoline exports from regional refiners have remained low, dragged down by lower volumes out of China and South Korea,” he added in the report. | CGC
