Another P1 per liter hike in gasoline, diesel seen next week

Motorists should buckle up for another big-time hike in pump prices to be implemented in the coming week. “Based on the monitoring in the international oil market, we will expect an increase in the prices of petroleum products by next week,” Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said. The estimated upward adjustments are as follows: The Energy official cited the following developments in the recent international scene which affected fuel price movements: “Final adjustment will be determined after today’s trading and oil companies inputs on their related costs,” Romero said.

Oil companies announce official price adjustments every Monday, to be implemented on the following day. Effective Tuesday, April 22, fuel firms hiked the per liter prices of gasoline by P1.35, diesel by P1.



30, and kerosene by P1.10. The latest price movements brought the year-to-date total adjustment to stand at a net increase of P2.

30 per liter for gasoline and P2.85 per liter for diesel, while kerosene has a year-to-date net decrease of P1.80 per liter.

—VAL, GMA Integrated News.