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Fuel prices to increase by up to P1.50/liter on March 7

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Local oil companies will raise their pump prices of gasoline, diesel and kerosene on Tuesday, March 7, by as much as P1.50 per liter. | DYGalvezINQ MegINQ

The increases come a week after local oil companies cut their prices by P1.30 , P0.70 and P1.80 .

The Department of Energy said the Feb. 28 price adjustments resulted in a year-to-date net decrease for diesel at P2.40 per liter and kerosene at P2.30 per liter. Gasoline, meanwhile, had a net increase of P5.30 per liter. Local oil prices are anchored on the Mean of Platts Singapore , which refers to the calculation of average daily price assessments for a basket of crude and refined petroleum products traded in the Singapore market.This pricing reference is widely used in Asia-Pacific markets because Singapore is a major hub for oil trading and refining in the region.Your subscription has been successful.

 

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