Diesel breaches P170/L in fifth fuel price hike

MANILA, Philippines, April 7 ------ Oil firms have set new double-digit increases for diesel, along with other increases that have become the price movements for five straight weeks since the Middle East conflict broke out on Feb. 28, triggered by the attacks launched by the United States and Israel on Iran. The latest adjustments which take effect today have led to diesel now selling at P172.9 per liter, gasoline at P119.9, and kerosene at P178.29.

In its advisory, Shell Pilipinas said its diesel products would climb by P19.80 a liter, gasoline by P5.90 and by P9.10 for kerosene. Petron Corp. said diesel would jump by P18.80 per liter, gasoline by P4.90 and kerosene by P8.10. Seaoil will implement the following increases: P17.95 for diesel, P4.90 for gasoline and P8.10 for kerosene.

Motorists can take advantage and gas up at Jetti Petroleum stations, as the fuel retailer will only implement its price changes on Friday. Diesel and gasoline price hikes at Jetti are at P18.60 and P5.40 per liter, respectively. “We believe the delayed implementation will help cushion the impact of the significant increase, particularly on diesel,” Jetti Petroleum president Leo Bellas said.

The Department of Energy (DOE) has yet to give its update by Monday regarding the new price surges.

Source: inquirer.net