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.
This story is from the February 24, 2021 edition of Manila Bulletin.
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This story is from the February 24, 2021 edition of Manila Bulletin.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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