THE price of fuel has gone up for the second straight week.
On Tuesday, Jan. 14, the prices of gasoline rose by 80 centavos per liter, diesel by 90 centavos, and kerosene by 80 centavos.
This week’s price uptick was attributed by the Department of Energy’s Oil Industry Management Bureau to declines in OPEC and Russian oil production in December, strong employment data in the US, the anticipated rise in Asian demand due to the economic stimulus package of China, and cold weather blasts in the US and Europe.
Last week, the cost of gasoline and kerosene went up by P1 per liter and diesel by P1.40 per liter.
Since the start of the year, the per-liter price of gasoline has gone up by P1.80, diesel by P2.30 and kerosene by P1.80.
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