- CHERYL G. CRUZ
Another increase in the prices of petroleum products is expected to take effect tomorrow, April 11.
Oil companies said diesel will increase by P1.50 to P1.70 per liter, gasoline by P2.60 to P2.80 per liter, and kerosene by P1.60 to P2.25 per liter.
The exact price adjustments will be known today, April 10.
This will be the second week of price hike for this month. Effective April 4, oil companies also implemented a per liter increase of P1.40 for gasoline, P0.50 for diesel, and P0.20 for kerosene.
The Department of Energy Oil Monitor showed that the increase was largely due to expectations of tighter supplies, weak US dollar, and inventory.
“The week-on-week price of Dubai crude has increased by almost $3.30/bbl. MOPS prices of gasoline, diesel, and kerosene have also increased per barrel by about $3.50, $0.90 and $0.65,” the DOE said.
The recent price movements resulted in a year-to-date net decrease for diesel at P3.65/liter and kerosene at P5.35/liter. Gasoline, on the other hand, has a net increase of P6.05/liter since the start of 2023, the DOE said./CGC
