Gas price hike at P2.80/l today, diesel up P1.70/l

By Alena Mae S. Flores and

Macon

Ramos-Araneta

GASOLINE prices are expected to go up P2.80 a liter on Tuesday as world oil prices surged following the decision of Saudi Arabia and the Organization of Petroleum Exporting Countries (OPEC) to cut their production of crude.

Unioil Philippines said in its advisory that fuel prices are expected to go up for the week of April 11 to 17 by P1.50 to P1.70 per liter for diesel and P2.60 to P2.80 per liter for gasoline.

Saudi Arabia and OPEC announced last week a reduction in the oil output by 1.16 million barrels