Fuel prices up by P1 per liter Friday, 2nd hike in 4 days

MANILA, Philippines ? Effective Friday, prices of gasoline, diesel and kerosene will go up by P1 a liter, the second increase in just four days and the seventh increase since January, pushing to P5.25 the total increase for a liter of gasoline and to P5 for a liter of diesel. The series of increases came as unrest in oil-producing Arab countries persisted and international crude prices surged. Amid the unrest in North Africa and the Middle East, the Philippine government is preparing for a possible disruption in the country’s fuel supply, Energy Secretary Jose Rene Almendras said. ‘We need to be prudent. Let’s be ready,’ Almendras said on Thursday evening, quoting President Benigno Aquino…

Read the original post:
Fuel prices up by P1 per liter Friday, 2nd hike in 4 days