�� Price of gasoline up for 6th consecutive week

Price of gasoline up for 6th consecutive week

/ 05:00 AM April 23, 2024

A gas attendant fills up a gas tank at a gasoline station in Quezon City, a day ahead of bigtime price hike, September 23, 2019. Oil Companies will implement on on September 24, 2019, at exactly 6 am amounting to Php 2.35 per liter for gasoline, Php 1.75 per liter for diesel, and Php 1.80 per lliter kerosene. INQUIRER PHOTO / NINO JESUS ORBETA


MANILA, Philippines — Oil companies reduced the prices of diesel and kerosene but hiked that of gasoline effective on Tuesday, April 23.

Per liter, diesel and kerosene decreased by 95 centavos and P1.10, respectively, while gasoline rose by 55 centavos effective at 6 a.m., based on separate advisories issued by oil firms.


This marked the sixth consecutive time that firms raised the price of gasoline.


READ: Oil firms hike diesel price by 95¢ per liter, gasoline by 40¢

Rino Abad, director of the Department of Energy’s Oil Industry Management Bureau, said they did not expect industry players to roll back pump prices due to prevailing geopolitical tensions.

“There is a correction in the market because no actual market disruption occurred after the missile attacks between Israel and Iran,” Abad said at the government’s Bagong Pilipinas Ngayon television program.

But he added that there was no assurance price decreases would be sustained in the coming weeks.

“It is not certain if the rollbacks will continue. We did not expect this because of the prevailing trend caused by these events—production cut of Opec (Organization of the Petroleum Exporting Countries), conflict in the Middle East,” said Abad.

Last week, there were hefty increases in pump prices per liter with gasoline going up by 40 centavos, diesel by 95 centavos and kerosene by 85 centavos. —JORDEENE B. LAGARE

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: fuel price hike, oil price

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.