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Oil price hike set

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Oil companies will increase oil prices today by less than 50 centavos.

In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will hike gasoline and diesel prices by P0.40 per liter.

Caltex, Seaoil, and Shell will also implement P0.30 per liter increment on kerosene prices.

Other industry players are expected to follow suit.

Last week, oil companies had mixed price adjustments, decreasing prices for gasoline while increasing diesel and kerosene prices.

Department of Energy (DOE) data showed that the price adjustments last Tuesday made the gasoline and diesel year-to-date prices to have net increments of P7.15 and P4.45 per liter, respectively.

On the other hand, year-to-date price of kerosene had a net decrement of P1.35 per liter.*PNA

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