Higher pump prices will kick off the new year for motorists today (Tuesday) with oil firms implementing a price hike of as much as P3.05 per liter for kerosene. READ:
Gasoline prices will go up by P2.90 per liter while diesel will go up by P2.10 per liter, according to Petron Corp., the country’s biggest oil company.
The higher pump prices followed the decrease in cooking gas or liquefied petroleum gas implemented by the oil companies on Jan. 1. China’s demand recovery as restrictions loosened also drove world oil prices up, but the increasing COVID-19 infections and fears of renewed global COVID surge from Chinese travelers dampened this.
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