Fuel prices to rise for 2nd week in a row

Oil firms will jack up prices of fuel products by about P1 per liter for the second week in a row amid rising tensions in the Middle East.

Starting 6 a.m. on Tuesday, April 3, diesel prices will go up by a peso per liter as did gasoline by 90 centavos per liter.

As of posting time, companies that announced diesel price adjustments included Pilipinas Shell Petroleum Corp., Flying V, PTT Philippines Corp., Petron Corp., Phoenix Petroleum Philippines Inc., Chevron Philippines Inc. (Caltex) and Seaoil Philippines Inc.

Shell, Flying V, Seaoil, Caltex and Petron will also raise prices of kerosene by P1 per liter.

Based on monitoring by the Department of Energy, the latest round of price hikes will bring the price of diesel in Metro Manila to within the range of P38.30 to P44.50 a liter.

Gasoline with an octane rating of 95 will remain in the range of P48.05 to P58.82 a liter, while kerosene will now be at P46.07 to P56.25 a liter.

The latest price adjustments will bring diesel rates to a cumulative increase of P6.45 per liter this year.

Similarly, gasoline prices will go up by a total of P6.07 per liter and of kerosene by P6.71 per liter. /atm