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MANILA – Another round of oil price hikes will be implemented starting Tuesday morning (June 21), with the highest increase in the cost of diesel, commonly used by public utility vehicles.
In separate announcements, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell said there will be an increment of PHP0.80 per liter on gasoline, and PHP3.10 per liter on diesel prices.
Caltex, Seaoil, and Shell will also raise kerosene prices by PHP1.70 per liter.
Since the start of the year, gasoline prices have had a net increase of PHP27.95 per liter, PHP40.05 per liter for diesel, and PHP37 per liter for kerosene.
Energy Undersecretary Gerardo Erguiza Jr. said during the Laging Handa public briefing the weaker peso last week has affected the prices of fuel products this week.
“Our multiplier in dollars… you will multiply it per barrel so there will be an increase in net effect. That's one reason why it really went up slightly again -because your dollar went up,” he added.
The peso closed last week at 53.75 to a US dollar. (PNA)
