Motorists filling up diesel on their vehicles will bear heavier financial pain this week, as this commodity is expected to rise by P1.40 to P1.60 per liter, based on calculation. READ:
Motorists filling up diesel on their vehicles will bear heavier financial pain this week, as this commodity is expected to rise by P1.40 to P1.60 per liter, based on calculation.
The new round of price upticks that will be due on Tuesday, April 19, will still be anchored on cost movements linked to the Mean of Platts Singapore , the regional pricing benchmark adopted by the Philippine oil industry players in pricing their products. Since the start of the year, the DOE reported that gasoline prices still incurred aggregate hikes of P15.00 per liter for gasoline; P25.65 per liter for diesel; and P21.10 per liter for kerosene products.
For Dubai crude, which is the pricing reference for Asian markets, it settled above $104 per barrel at the close of trading on April 14, manifesting new cycle of price rally after dipping to $98 per barrel in the previous week.