ILOILO – An oil firm has announced big-time increase on fuel prices Monday afternoon in an advisory posted by Petron franchise located at Mali-ao, Pavia.
Petron Corporation announced VAT (value added tax)-inclusive uptick on its fuel prices effective 6 a.m. Tuesday. Gasoline increased by P2.35 per liter, kerosene by P1.75 per liter and diesel by P1.80 per liter.
Recent drone attacks on Saudi Arabia’s Aramco oil facility last Sept. 14 shot all prices of oil upward in countries dependent upon Saudi’s oil reservoir, sending woes of a shock. According to Aramco, the attacks cut five percent of global oil supply.
On the other hand, the Department of Energy said Sunday that the Philippines’ oil prices were bound to increase this week even without the attacks, taking into consideration the rise in the international market price and the depreciation of the peso./PN
