By Tracy Cabrera
MANILA — With the row between the United States and Iran still unresolved and inflation on the rise again, Filipinos are unlikely to find any respite as power and fuel prices are expected to increase once more.
Late Friday afternoon, the Manila Electric Company (Meralco) announced a ₱0.3428 per kilowatt-hour (kWh) increase this month, bringing the overall electricity rate for a typical household to ₱14.8261 per kWh from ₱14.4833 per kWh in June due to higher generation charges and taxes during the period.
The latest price monitoring also indicated that diesel and gasoline prices are set to increase by Tuesday next week, following recent tensions between the United States and Iran over vessels crossing the Strait of Hormuz.
Local oil industry sources said diesel prices are expected to increase by ₱2 to ₱4 per liter, while gasoline prices may rise by as much as ₱1 per liter.
The sources said the estimates are based on the first four days of trading under the Mean of Platts Singapore (MOPS), the benchmark used for pricing refined petroleum products in Southeast Asia.
This week, based on oil companies’ price adjustment advisories, diesel prices increased by ₱3.30 per liter, while gasoline prices rose by ₱0.25 per liter.
