MANILA — Price of gasoline may go up by P1 per liter while costs of other petroleum products are soaring as well after three weeks of consecutive price cuts, according to the Department of Energy. 

The following price increases on petroleum products may be implemented on March 25, based on the recent trading days of Mean of Platts Singapore.

Gasoline - P1.00-P1.20/liter

Diesel - P0.30-P0.50/liter

Kerosene P0.20-P0.40/liter

Factors pushing the increase are the intensifying tension in the Middle East, Israel's expansion of ground operations across Gaza, and China's stimulus package that may increase oil demand.

A decline in oil inventories from the United States is also affecting pump prices.

For the last 3 weeks, the total rollback for diesel are P1.90/L, gasoline by P2.60/L and kerosene by P3.60/L.

- with report from Alvin Elchico and David Dizon, ABS-CBN News