MANILA, Philippines – Fuel prices will once again rise on Tuesday, March 26, amid movements in the international market.
Petron, Petro Gazz, Caltex, and Shell announced that gasoline prices will jump for the 7th consecutive time by P0.65 per liter, while diesel prices will slightly increase by P0.10 per liter.
Companies that offer kerosene will also hike prices by P0.10 per liter.
The new rates will be implemented at 6 am on Tuesday.
Other companies are expected to implement the same rates.
Year-to-date adjustments stand at a net increase of P6.75 per liter for gasoline, P4.75 per liter for diesel, and P3.55 liter for kerosene.
Gasoline prices in Metro Manila range somewhere between P55.21 and P57.14, while diesel hovers at P43.64 to P45.64 and kerosene at around P50.39, according to the Department of Energy.
As of last week, oil prices have surged to their highest level in months, with the US West Texas Intermediate rising above $58 per barrel and Brent crude trading at $67. – Rappler.com