By Myrna M. Velasco
Motorists will need to shell out extra-centavos on their fuel purchases as pump prices will be on P0.20 to P0.35 per liter increases this week.
As announced by the oil companies, the price of gasoline will climb by P0.30 per liter; diesel by P0.20 per liter; and kerosene products will have the biggest increase of P0.35 per liter.
As of this writing, the industry players that already sent notices on their price hikes had been Pilipinas Shell Petroleum Corporation, Cleanfuel and PetroGazz; while the rest of their competitors are expected to follow. Most of the price adjustments are anticipated Tuesday (February 25).
In the past weeks, global prices were on precipitous slide especially at the flare-up of the new coronavirus emanating from China, but had affected various parts of the world when it comes to the flurry of infections on affected individuals.
There had been manifest slowdown in global oil consumption that even the world’s energy giants had expressed worries over such uncertainty. But this is expected stabilizing once the virus scare dissipates.