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  • By The Financial District

Gasoline Prices Up

Prices of diesel and kerosene are set for a big-time hike today following separate advisories from oil companies.


Photo Insert: With the price adjustments in the previous week, gasoline prices have increased since the start of the year by PHP27.40 per liter, PHP36.30 per liter for diesel, and PHP30.35 per liter for kerosene.



Caltex, Cleanfuel, Seaoil, and Shell said they will increase diesel prices by PHP2.60 per liter and PHP0.70 per liter on gasoline. They will also raise prices of kerosene by PHP2.80 per liter.


With the price adjustments in the previous week, gasoline prices have increased since the start of the year by PHP27.40 per liter, PHP36.30 per liter for diesel, and PHP30.35 per liter for kerosene.



The increase in petroleum prices this week is driven by a tightening of supply, with United States’ crude inventory declining and the sanctions against Russia continuing to impact demand and supply dynamics and affecting prices.


According to OilPrice.com, the volatile oil prices have been impacting traders and other industries. Dubai crude increased by 0.22 percent last Friday, bringing prices to settle last week at USD95.39 per barrel.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

On the other hand, Brent and West Texas Intermediate (WTI) prices on Monday declined by 1.69 percent and 1.38 percent, respectively, as of writing. WTI crude has touched below USD90-level.



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