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Big-time oil price hike again

After last week’s break from 11 straight weeks of price hikes, oil companies will increase fuel prices again today.

In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Unioil said they will hike gasoline prices by P3.40 per liter, and P8.65 per liter for diesel.

Caltex, Seaoil, and Shell will also increase the prices of kerosene by P9.40 per liter.

Shell said the main drivers of another significant price increase this week are market premiums and freight.

Global oil prices remain elevated as supply concerns remain intact.

Meanwhile, following the oil price rollbacks last week, year-to-date net increase on gasoline prices stood at P14.90 per liter, P19.20 per liter for diesel, and P16.35 per liter for kerosene.*PNA

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