Kerosene price up by P4.10 per liter Tuesday 

Oil companies will impose steep price hikes on Tuesday.

The cost of biodiesel will go up by P5.85 per liter, unleaded gasoline by P3.60 per liter, and kerosine by P4.10 per liter.

It will be the biggest single-week oil price increase this year.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno warned that higher oil prices because of the war in Ukraine will have an impact on the country’s inflation.

“The main channel through which the Russia-Ukraine war could affect the Philippines is higher oil prices. Global oil prices have already exceeded US$90 per barrel and previous episodes of oil price surges suggest that oil prices could increase further,” Diokno said in a statement late Sunday.

As of March 7, the price of Brent crude reached almost $130 per barrel while Dubai crude is at $106.58 per barrel. WITH ANNA LEAH E. GONZALES

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