(Eagle News) – Oil prices will again increase tomorrow, Tuesday, June 13, the second straight week of price hike of oil products.
Gas prices will increase by P2.15 per liter, while diesel prices will be up by 4.30 per liter. Kerosene, on the other hand, will increase by P4.85 per liter.
Several gasoline stations have already posted their advisories for the oil price increase.
Surging energy costs are being felt across the global economy with various countries reporting record high oil prices, including in the US where the average price of premium gasolines surpassing $5 a gallon for the first time.
Markets also tumbled across Asia and Europe on Monday, June 13.
Both the Japanese yen and the Indian rupee hit record lows.
The British economy also sank for the second straight month.
Even the US economy rose to 8.6 percent in May this year, compared to 2021. This is the biggest increase since December 1981.
The peso hit 53 to a dollar last week. This was the peso’s weakest performance in more than three years.
Oil prices in early June increased, after the OPEC+ group of major oil producing nations led by Saudi Arabia and Russia agreed to raise output more than expected in the wake of a European Union ban on most Russian crude.
(Eagle News Service)
