Industry players similarly advised that the price of kerosene, a fuel commodity that serves as a base for aviation fuel, will also climb by P3.50 per liter.
The highly volatile prices in the world market are still ignited by the niggling Russia-Ukraine war, with threats of a ban on Russian oil recently triggering the fresh wave of upswings in international oil prices. As of Monday, April 25, trading price for international benchmark Brent crude had fallen to $103 per barrel from last Friday’s $106 per barrel, and West Texas Intermediate crude plunged anew to $99 per barrel level while Dubai crude had been steady at $103 per barrel.
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