Price of gasoline up for fourth straight week

MANILA, Philippines — Petroleum products will be more costly starting on Dec. 17, with the prices of gasoline and diesel both increasing by 80 centavos per liter.

This was announced in separate advisories by oil companies Seaoil, Shell Pilipinas, Caltex, Petro Gazz and Jetti.

Kerosene will also be slightly more expensive at 10 centavos per liter. Fuel retailers usually announce price movements every Monday, with the implementation set the following day.

READ: Fuel price adjustment: Gasoline up 40¢/L, diesel down 50¢/L from Dec 10

This marks the fourth straight week that the price of gasoline has gone up.

Rodela Romero, the Department of Energy’s Oil Industry Management Bureau assistant director, earlier said the increases could be attributed to the higher power demand projected for next year as well as the ongoing conflict in the Middle East. —Lisbet K. Esmael