By JORDEENE B. LAGARE April 15, 2019
JUST days before the long holiday
begins, motorists may want to purchase a full tank’s worth of fuel as oil
companies are expected to raise the prices of gasoline by about a peso per
liter this week.
A gasoline attendant refills a
motorcycle with gasoline at a station in Manila. PHOTO BY RUSSELL PALMA
“Expect fuel prices to go up next
week. Diesel should go up by P0.60 to P0.70 per liter and gasoline should go up
by P0.90 to P1.00 per liter,” Unioil Petroleum Philippines Inc. said in an
advisory on Saturday.
An industry source told The Manila
Times over the weekend that the price of diesel would increase by 60 to 70
centavos per liter and 80 to 90 centavos per liter for gasoline, based on the
average of the Mean of Platts Singapore (MOPS) trading from April 8 to 11.
The industry uses MOPS, the daily
average of all trading transactions of diesel and gasoline as assessed and
summarized by Standard and Poor’s Platts.
On Friday, global oil prices gained 1 percent.
On Friday, global oil prices gained 1 percent.
A report by Reuters said Brent crude
oil futures climbed 1.02 percent at $71.55 per barrel, while the US West Texas
Intermediate crude futures inched up 0.5 percent at $63.89 a barrel.
Last week, the price of diesel
increased by 20 centavos per liter, gasoline by 25 centavos per liter, and
kerosene by 10 centavos per liter.
Year-to-date adjustments stand at a
net increase of P4.65 per liter for diesel, P6.90 per liter for gasoline and
P3.45 per liter for kerosene, based on the Department of Energy’s price
monitoring.
No comments:
Post a Comment