MORE EXPENSIVE. A gas station attendant checks fuel pumps in this undated photo. Petroleum prices will see another hike this week -- PHP0.75 per liter for gasoline, PHP1.50 per liter for diesel and PHP0.80 per liter for kerosene. (File photo)
MANILA – Oil firms would hike pump prices for a fifth consecutive week.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP0.75 per liter and higher increment for diesel prices at PHP1.50 per liter
Caltex, Seaoil, and Shell will also increase kerosene prices by PHP0.80 per liter.
The price adjustments will take effect on Tuesday.
Since 2024 started, gasoline prices have already increased by PHP4.25 per liter, diesel increased by PHP1.90 per liter, and kerosene prices were higher by PHP1.45 per liter.
Global oil prices closed higher last week on the back of the potential ceasefire in the Israel-Hamas war.
The strong US economic data, which suggests that a recession is unlikely, also supported the increase in oil prices in the world market. (PNA)
