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Oil prices to go up Tuesday

Danessa Rivera - The Philippine Star
Oil prices to go up Tuesday
“Diesel will increase by P1.80 to P1.90 per liter. Gasoline will increase by P1.40 to P1.50 per liter,” Unioil Philippines said in its forecast.
STAR / KJ Rosales, file

MANILA, Philippines — Oil companies are raising pump prices for the fourth straight week on Tuesday.

“Diesel will increase by P1.80 to P1.90 per liter. Gasoline will increase by P1.40 to P1.50 per liter,” Unioil Philippines said in its forecast.

Global oil prices rose to a seven-year high as investors bet on a tight supply outlook before closing the week lower, but still on their fifth weekly gain, Reuters reported.

Prior to the upcoming price movement, year-to-date adjustments stand at a total net increase of P3.50 per liter for gasoline, P5.30 per liter for diesel and P5.05 per liter for kerosene.

Last year, the Department of Energy said prices had a total net increase of P17.65 per liter for gasoline, P14.30 per liter for diesel and P11.54 per liter for kerosene.

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