Fuel price hike set on 1st week of April

Oil prices are set to go up again. INQUIRER FILE PHOTO

MANILA, Philippines – More expensive petroleum products will greet motorists in the first week of April, with oil companies raising prices by more than P1 per liter.

In separate advisories on Monday, Seaoil, Petro Gazz, Cleanfuel, and Shell Pilipinas said the per-liter price of gasoline would climb by P1.40.

Both diesel and kerosene will also see increases of P1.20 a liter.

Fuel retailers usually announce their price adjustments every Monday, with the implementation scheduled the next day.

Jetti Philippines’ Leo Bellas said late last week that the price surge could be blamed on “supply and trade war risks concerns,” which included the United States’ new sanctions on Iran and tariff threats on Venezuelan oil buyers.