MOTORISTS nationwide will see a fresh round of fuel price hikes in the last week of January, with diesel prices increasing for the fifth straight week.
In their respective advisories on Monday, January 26, Petron and Seaoil said the per-liter price of diesel would jump by P1.40 starting today.
Gasoline will also rise by 40 centavos a liter, marking its third consecutive week of hikes.
Kerosene also records its fifth round of increases, with this week climbing by 80 centavos.
Jetti Petroleum president Leo Bellas earlier said that the potential price hikes could be blamed on supply risks, stronger demand and continued geopolitical tensions.
The higher demand forecast was given amid the bullishness in China’s economic expansion, as well as stronger consumption in the United States and Europe due to colder weather.
Last week, the per-liter price of diesel went up by P2. Gasoline and kerosene prices also increased by P1 a liter and P1.50 per liter, respectively. (Lisbet K. Esmael © Philippine Daily Inquirer)
