Big-time oil price hike set for March 19
Petro Gazz, Seaoil, Caltex, and Shell announced on Monday, March 18, that gasoline prices will increase for the 6th straight week, by P1.45 per liter. Diesel will be jacked up by P0.30 per liter.
Companies carrying kerosene will also implement a P0.40 per liter hike.
The new rates will be implemented at 6 am on Tuesday.
Year-to-date adjustments stand at a net increase of P6.10 per liter for gasoline, P4.65 per liter for diesel, and P3.45 per liter for kerosene.
Gasoline retails somewhere between P50.84 and P55.69 in Metro Manila, while common diesel prices range from P43.34 to P46.23, and kerosene at P50.74.
The Department of Energy attributed the successive price hikes to the tight supply in Asia coupled with healthy demand. – Rappler.com