Danessa Rivera (The Philippine Star)
- April 7, 2019 - 12:00am
MANILA, Philippines — Motorists can
expect higher fuel prices this week.
Unioil Philippines said an increase
is expected on pump products.
“Diesel should go up by P0.10 to
P0.15 and gasoline by P0.15 to P0.25 per liter,” it said.
The price increase will come a week
after oil firms implemented minimal price cuts on fuel products.
During the first few days of the
trading week, the Brent crude touched $69 a barrel – hovering near $70 per
barrel – on the back of continued supply cuts from the Organization of
Petroleum Exporting Countries and US sanctions against Iran and Venezuela.
Oil prices slipped by mid-week but
were able to bounce back and climb to over $70 per barrel at the end of the
trading period due to a strong US jobs data, which tempered fears about
weakening global crude oil demand and concerns over tightening supply because
of the escalating conflict in Libya.
Last week, local oil firms reduced
gasoline prices by P0.10 per liter, diesel by P0.30 and kerosene by P0.20 per
liter.
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