Yes, gasoline and diesel prices have been trending upwards lately. But given that the rates we have now got to that point incrementally, you’d be forgiven for not being able to grasp the extent of the recent fuel-price hikes.
Well, the Department of Energy (DOE) recently shared some information that should help put things in perspective. During a press conference yesterday, energy secretary Alfonso Cusi broke down how local fuel prices have gone up over the past year.
In March 2021, the common pump price for gasoline and diesel were P48.13/L and P37.3/L, respectively. Once the new year rolled around, it was at P59.63/L for gasoline and P47/L for diesel. Those figures already show more or less a P10 rise over several months.
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Fast forward to March 7, 2022—a year later—and the common pump price of gasoline is already at P69.28/L for gasoline and P58.65/L for diesel. That’s a P21.15/L and P21.35/L jump over a year for gasoline and diesel, respectively. Look:
PH diesel and gasoline prices (common pump price)
- Gas – P48.13/L
- Diesel – P37.3/L
- Kerosene – 43.88/L
- LPG – P76.67/kg
- Gas – P59.63/L
- Diesel – P47/L
- Kerosene – P51.91/L
- LPG – 87.27/kg
March 7, 2022
- Gas – P69.28/L
- Diesel – P58.65/L
- Kerosene – P62.21/L
- LPG – P96.67/kg
Did anyone else’s wallet scream out in pain after seeing these figures? Let us know how you’ve been coping with the rising fuel prices in the comments. You can also read our tip sheets on fuel-saving best practices, and fuel-saving myths to avoid.