More than P1 increase in fuel prices seen on first week of April | ABS-CBN

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More than P1 increase in fuel prices seen on first week of April

More than P1 increase in fuel prices seen on first week of April

Ched Rick Gatchalian,

ABS-CBN News

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MANILA — Motorists will have to shell out more on the first week of April as gasoline prices are seen to increase by P1, according to the Department of Energy.

The following price adjustments are expected to be implemented on April 1, based on the previous trading days on the Mean of Platts Singapore:

Gasoline - P1.20-P1.40/ liter (increase)

Diesel -  P1.00 - P1.20/ liter (increase)

Kerosene - P1.00-P1.20/ liter (increase)

The hike was influenced by the sanctions imposed by the United States to Iran. This could reportedly decrease oil production by 1 million barrels.

There were also ongoing attacks on energy installations in Russia and Ukraine.

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Meanwhile, the US imposed high tariffs on imports from countries consuming oil and gas from Venezuela. -- with reports from Alvin Elchico and David Dizon, ABS-CBN News

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