Lenten price hike: P1.40 for diesel, P2.20 for gas

MANILA, Philippines — Amid the Holy Week travel period, hefty fuel price hikes have been implemented.

In separate advisories, oil companies increased pump prices by P2.20 per liter for gasoline, P1.40 for diesel and P1.30 for kerosene.

Today’s adjustments take effect at 6 a.m. with Jetti, PetroGazz, SeaOil and Shell. Meanwhile, CleanFuel adjustments take effect at 4:01 p.m.

The increase corresponds with the Friday estimation of Department of Energy (DOE)-Oil Industry Management Bureau assistant director Rodela Romero, citing international events.

Romero said oil prices are driven higher due to “speculation surrounding the impact of Ukraine’s recent assaults on Russian big three refineries.”

She added that the reduction of Iraq crude exports also contributed to the price hike.

At the same time, the “stronger demand and economic growth” of the US and China have impacted fuel prices.

Last week, gasoline increased by P0.10 per liter, while diesel decreased by P0.10. Kerosene prices remain unchanged.

DOE’s oil monitor tallied year-to-date adjustment of gasoline stands at P5.55 per liter and diesel at P3.70 per liter. Kerosene has a net increase of P0.25 per liter.