Bad news for motorists!
A significant increase in fuel prices will take effect on Monday, April 1.
According to Department of Energy-Oil Industry Management Bureau (DOE-OIMB) Assistant Director Rodela Romero, the price hike is driven by several factors, including U.S. sanctions on Iran, the possible imposition of tariffs on countries purchasing Venezuelan crude oil, and ongoing attacks on energy installations amid the Russia-Ukraine conflict.
Here are the expected price adjustments:
- Gasoline – Increase of ₱1.40 per liter
- Diesel – Increase of ₱1.20 per liter
- Kerosene – Increase of ₱1.20 per liter
Motorists are advised to fuel up before the price hike takes effect.
