• CHERYL G. CRUZ
The per liter price of gasoline will increase this week, while a rollback looms for diesel and kerosene.
Oil companies announced over the weekend that gasoline will increase by P0.40 to P0.60 per liter, while diesel should go down by P0.80 to P1/L, and kerosene by P0.90 to P1.20/L.
The exact price adjustments will be known today, April 22, as oil companies regularly implement movements every Tuesday.
This will be the sixth straight week of price increases for gasoline, following a hike of P0.40/L effective April 16. Diesel and kerosene also increased by P0.95/L and P0.85/L last week.
“The week-on-week price of Dubai crude has increased by almost $1.20 per barrel, while the international price of gasoline, diesel, and kerosene have also increased by about $0.20, $1.50, and $1.60 per barrel, respectively,” the Department of Energy Oil Monitor showed.
It added that crude oil prices trended higher due to intensified Middle East tensions, “overshadowing US inflation data and crude build”.
Year-to-date adjustments for gasoline, diesel, and kerosene stood at a per liter net increase of P9.70, P7, and P2.25, respectively, the DOE added. | CGC
