Another round of double-digit hike sends diesel to near P130 per liter

National

DIESEL prices soared to nearly P130 per liter Tuesday, April 7, as oil companies implemented another round of hefty increases, extending the upward trend five weeks into the US Iran conflict.

In separate advisories, firms raised diesel by as much as P19.80 per liter while gasoline went up by P4.90 to P5.90 per liter, a report by Philstar said.

The report added that Shell increased diesel by P19.80 per liter, bringing the fuel to around P148 per liter based on previous rates. Petron raised diesel by P18.80, Jetti by P18.60, SeaOil by P17.95, PetroGazz by P18.00, and CleanFuel by P15.00.

For gasoline, Shell implemented a P5.90 per liter increase. Petron, SeaOil and CleanFuel raised prices by P4.90, while Jetti added P5.40 and PetroGazz added P5.00.

Kerosene prices went up by P9.10 at Shell and P8.10 at Petron and SeaOil.

Diesel continues to bear the brunt of the adjustments, reflecting tight global supply conditions and sustained volatility in crude prices. The latest increases come on top of already elevated pump prices, further raising operating costs for transport groups and businesses dependent on fuel.

The continued price hikes follow weeks of sustained increases linked to disruptions in global oil supply, particularly concerns over shipping routes in the Middle East.(Jene-V N. Sayson, CTU-TC BAEL-ELSD Intern)