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Monday, May 20, 2024

Gas prices to go up by P1.20, diesel by P1.10

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Pump prices of petroleum products are set to go up again in the coming week, Unioil Petroleum Philippines said Saturday.

In its fuel price forecast for the trading week February 23 to March 1, Unioil said the price per liter of diesel may increase by P1.00 to P1.10. Gasoline prices, meanwhile, may hike by P1.10 to P1.20 per liter.

Oil companies announce price adjustments every Monday to be effective on the next day.

This week, fuel firms hiked prices effective Tuesday, Feb. 16. They hiked gasoline prices at an average of P0.75 per liter and diesel by P1.25 per liter.

Data from the Department of Energy showed gasoline prices range from P38.85 and P50.70 per liter while diesel prices range from P31.30 to P38.80 per liter.

Year-to-date adjustments stand at a net increase of P4.00 per liter for gasoline and P3.90 per liter for diesel.

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