Motorists aren’t welcomed with the best news this March as diesel and gasoline prices are expected to see an upward adjustment this week.
The week of March 7 will have a fuel price increase
In a report by PH Fuel Watch on its official Facebook page, the price of diesel may see an increase from Php 1.20 to Php 1.50 per liter. Meanwhile, the rise for gasoline products is expected to be less significant, with an estimated price uptick of Php 0.10 to Php 0.40 per liter.
Kerosene is also projected to go up by between Php 1.20 and Php 1.50.
The estimated fuel price changes are implemented every Tuesday, as usual. In this week’s case, the reported upward trend will be effective starting March 7 until March 13. These figures are derived from the Mean of Platts Singapore (MOPS), which is used as the pricing basis for fuel products in the Southeast Asian region.
The fuel price rise follows a rollback last week
Take note that the price update is subject to change depending on world market trends. Moreover, it varies per station and location.
The upcoming price adjustment follows last week’s rollback when diesel prices were reportedly reduced from Php 1.30 and Php 1.60 liter while gasoline prices were down by around Php 0.90.
Another big news this March is the weeklong transport strike. The strike is a response to the government’s Public Utility Vehicle Modernization Program (PUVMP), which looks to phase out traditional jeepneys in favor of the more modern and environmentally friendlier ones.
The increase coincides with the weeklong transport strike
The initial deadline for the phase-out was on June 30 but was moved to December 31, 2023. To note, the strike is slated to end this Sunday, March 12.
If you are planning to use your personal vehicle this week due to the disruption in public transportation, you should head up to your nearest pumping station now before the increase in fuel products is implemented tomorrow.
See the latest updates in the transport sector at Philkotse.com.