Motorists are expected to spend more for fuel as oil prices increased in the last week of March, with hikes effective tomorrow, Tuesday.
Major petroleum companies said in separate advisories that gasoline prices will rise by P1.10 per liter, while diesel and kerosene will increase by 40 centavos per liter each for the period March 25 to 31.
Petro Gazz, Seaoil, and Shell Pilipinas will adjust pump prices tomorrow at 6 a.m., with Cleanfuel following at 4:01 p.m.
Cleanfuel will implement the same price adjustments, excluding kerosene, which it does not carry.
The price adjustments will take effect at 6 a.m. on Tuesday, March 25, for most companies, except Cleanfuel, which will implement the hike at 4:01 p.m. the same day.
Last week, gasoline prices in Metro Manila ranged from ₱55.40 to ₱71.95 per liter, diesel from ₱53.70 to ₱58.40, and kerosene stood at ₱70.67 per liter.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier predicted price hikes this week due to escalating Middle East tensions, increased fuel demand from China’s fiscal stimulus, and a decline in US fuel inventories.
Year-to-date, gasoline and diesel have a total net increase of ₱2.15 per liter and ₱2.85/per liter, respectively, while kerosene has a total net decrease of ₱0.70 per liter, according to data from DOE. (TCSP)
