Consumers will have to brace for higher pump prices of about P4 per liter effective Tuesday, after experiencing a price rollback the week before amid the continuing volatility of world oil prices.
Sources told the Standard on Friday gasoline prices will likely go up by P4.15 to P4.30 per liter, followed by P4 per liter for diesel and P4.80 per liter for kerosene.
The exact increase, however, will still depend on the movement of oil trading on Friday, as the computation is only for the first four days of the week.
Industry sources said the increase was driven by the reopening of businesses in China and the ongoing conflict between Russia and Ukraine.
On May 3, local oil companies implemented a price rollback of P0.65 per liter for gasoline and P1.10 per liter for both diesel and kerosene.
These resulted in year-to-date adjustments to stand at a net increase of P17.80 per liter for gasoline, P30.30 per liter for diesel, and P23.90 per liter for kerosene.
As this developed, Petro Gazz said it will give a P2 per liter discount on all its products on Election Day, May 9, in selected stations.
Voters need to present their index finger marked with indelible ink to avail of the discount, the company said in a statement. Promotion lasts from 6 a.m. to 8 p.m. only.
Participating Petro Gazz stations include those on Mindanao Avenue, Quezon City; Barangka in Mandaluyong; Moonwalk in Paranaque; Llano in Caloocan; Fortune in Valenzuela; Mayamot in Antipolo; San Sebastian in Batangas; Basud in Camarines Norte; Poro in La Union; Valladolid, Crossing Pulupandan, and Kabankalan 2 in Negros Occidental; Bulua in Cagayan de Oro; and Calumpang in General Santos City.