Rising World Oil Prices Will Inevitably Affect Us
Manila Bulletin|February 24, 2021
This is one price we have to pay for the return of our economy to normal – high prices for gasoline and diesel which drive our indus-tries as well as our cars.
Rising World Oil Prices Will Inevitably Affect Us

This week, the price of gasoline is expected to rise from ₱1.25 to ₱1.30 per liter, and diesel from ₱0.90 to ₱0.95 per liter. Kerosene is one vital commodity for many households and is also the base for aviation fuel. Its price is expected to rise from ₱1 to ₱1.10 per liter.

These local oil price increases are the natural result of price movement in the world oil market. Many countries are starting to reopen their industries, resulting in an increase in the consumption of fuel, triggering – in obedience to the law of supply and demand – an increase in prices.

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