Uptick in fuel prices continue this week

CONSUMERS WILL have to bear another increase in oil prices this week, although less than the price adjustments the previous week. Gasoline prices will rise by P0.40 per liter (/L) diesel by P0.35/L and kerosene by P0.70/L. Companies that sent their advisories as of Monday afternoon said the price hike would take place at 6:00 a.m. on Tuesday, July 10. Last week, the per liter prices of gasoline, diesel and kerosene rose by P0.65, P0.55 and P0.70, respectively. The price adjustment took place two days before the Land Transportation Franchising and Regulatory Board approved a P1.00 increase in transport fares for the first four kilometers. The hike brings the minimum fare at P9.00 in the National Capital Region and nearby provinces. —