2019News

Oil prices up for 4th week

By Victor V. Saulon, January 28 2019; Business World

https://www.bworldonline.com/oil-prices-up-for-4th-week/

Image Credit to Inquirer.net

OIL COMPANIES are raising the prices of petroleum products for the fourth straight week, closing the month of January with a total increase of nearly P4.00 per liter (/L) for gasoline and more than P2.00 for diesel. Gasoline prices are increasing by P0.20/L this week, while diesel prices will rise by P0.55. The cost of kerosene will also go up by P0.40/L. Oil companies that have sent their advisories as of Monday afternoon said they would implement the price hike at 6:00 a.m. on Tuesday. Last week, the per liter prices of gasoline, diesel and kerosene went up by P0.10, P0.40 and P0.15, respectively. This month’s four consecutive weeks of increase followed three straight months of price cuts in the prices of fuel products. Oil firms imposed one of their biggest price increases for diesel on the second week of January at P2.30/L. In the same week, gasoline went up by P1.40 while kerosene by P2.00. — Victor V. Saulon

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