• CHERYL G. CRUZ
The pump prices of petroleum products will go up this week following two consecutive weeks of rollbacks.
The per-liter price of diesel could increase by P1.50 to P1.90, gasoline by P1 to P1.20, and kerosene by P1.10 to P1.30.
Exact adjustments will be known today, May 19, with price movements usually implemented every Tuesday.
The increase was mainly due to the agreement between the United States and China to temporarily stop steep tariffs for 90 days in a bid to deescalate a trade war between these two world largest economies, which could hike demand for petroleum products, reports said.
US sanctions on more than 20 companies involved in the Iran-to-China oil trade also resulted in the pump prices to go up, it added.
Effective May 13-19, diesel price was slashed by P0.90/L, gasoline by P0.30/L, and kerosene by P1.25/L. | CGC
