AFTER a round of rollbacks, pump prices of petroleum products are expected to increase on Holy Tuesday.
The price per liter of gasoline may go up by P1.20 to P1.40, based on Unioil Petroleum Philippines’ fuel price forecast for the April 4 to 10 trading week.
Diesel prices, meanwhile, may increase by P0.30 to P0.50 per liter.
Oil companies usually announce price adjustments every Monday, to be implemented on the following day.
Oil Industry Management Bureau assistant director Rodela Romero confirmed there was an expected price hike for petroleum products.
He attributed the anticipated fuel price increase to “an ease of tension brought about by the banking crisis, supply disruption in Turkey, inventory of US fell more than expected especially for gasoline and distillates, and a sign of strong demand in Asia due to China’s recovery.”
Data from the Department of Energy’s price monitoring from March 28 to 31 showed the price per liter of gasoline ranged from P55.85 to P65.85 per liter in Quezon City, Metro Manila’s largest city; diesel prices range from P55.43 to P59.93 per liter in Makati City, the country’s top financial hub; while in Philippine capital Manila, kerosene prices range from P66.26 to P72.20 per liter. (GMA Integrated News)
