Home NEWS Hefty oil value hike seen this week

Hefty oil value hike seen this week

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Danessa Rivera (The Philippine Star) – February 21, 2021 – 12:00am

MANILA, Philippines — Oil costs could be raised by greater than P1 per liter this week.

Unioil Philippines stated in its forecast that motorists ought to count on one other spherical of gas value will increase this week.

“Diesel ought to improve by P1.00 to P1.10 per liter. Gasoline ought to improve by P1.10 to P1.20 per liter,” it stated.

World oil costs surged earlier than shedding steam on the shut of the previous buying and selling week because of the non permanent provide disruptions within the US brought on by the chilly snap in Texas, the nation’s largest energy-producing state, primarily based on a report by Reuters.

Final week, native oil gamers raised gasoline costs by P0.75 per liter, diesel costs by P1.25 per liter and kerosene costs by P1.10 per liter.

These value actions introduced year-to-date changes to face at a web improve of P3.25 per liter for gasoline, P2.65 per liter for diesel and P2.25 per liter for kerosene.

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