Pump prices will be more expensive starting today as oil firms will implement more than P1 increase.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, Shell, and Uniol said they would increase gasoline prices by P1.40 per liter, and diesel prices by P1.75 per liter.
Caltex, Seaoil, and Shell will also hike kerosene prices by P1.05 per liter.
This will be the second consecutive week that oil companies hike prices at the pump.
According to industry experts, oil prices have increased in the global market on the back of geopolitical tensions, specifically Ukraine’s drone strike that caused a fire in a major oil terminal in Russia, as well as the looming full-blown war between Israel and Lebanon’s Hezbollah.
Last week, oil companies also implemented hefty fuel price increments.
This brought total price adjustment of gasoline, diesel, and kerosene on a year-to-date basis net increases of P6.90, P6, and P0.35 per liter, respectively.*PNA
