Another price increase of oil products to greet New Year

Gas up before the New Year rings. Another price increase of oil products is seen to greet the New Year.

Unioil Petroleum Philippines, an independent oil player, said the price of gasoline is likely to go up by P1.0 to P1.10 per liter. Diesel, on the other hand, will have its pump price starts at P0.65 to P0.75 per liter.

The expected increase this week is part of the chain of price increase over a period of one week. Last week, diesel prices rose to P1.15 per liter and kerosene products went up by P1.10 per liter.

In a year, the net price increase for diesel stood at P4.91 per liter, P6.47 for gasoline, and P1.71 for kerosene.

Oil prices at the world market skyrocketed to a three-month high over the news that Russia, the US, and China may patch up trade disputes. The three countries had signified their willingness to cooperate with the Organization of the Petroleum Exporting Countries (OPEC). (Mindanao Sun/ Featured Image: Pixabay)

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