Step 1: Understanding the Partition Coefficient ($\log P$)
The partition coefficient ($\log P$) represents the lipophilicity of a molecule, which is calculated using additive fragment values.
Step 2: Applying the Given Values
The given structure is p-cresol (4-methylphenol), and its $\log P$ value is calculated using the formula:
\[
\log P = \log P_{\text{benzene}} + \pi(\text{CH}_3) + \pi(\text{OH})
\]
Substituting the given values:
\[
\log P = 2.13 + 0.52 - 0.67
\]
Step 3: Calculation
\[
\log P = 2.13 + 0.52 - 0.67 = 1.98
\]
Step 4: Selecting the Correct Answer
Thus, the correct answer is 1.98 (Option C).