Manila: Oil companies will increase prices of fuel products by up to PHP1 per liter on Tuesday. In an advisory on Monday, Seaoil said the price of diesel will rise by PHP0.80 per liter, and gasoline and kerosene by PHP1 per liter, effective 6 a.m.
According to Philippines News Agency, Caltex will implement the same hike for the said products by 6:01 a.m. PTT Philippines and Jetti Energy will also increase gasoline price by PHP1 per liter and diesel by PHP0.80 per liter by 6 a.m. on the same day.
“The adjustments reflect the movement in prices of refined fuel products, freight and market premiums in the international market,” Jetti Energy said in a statement. This marks the 6th consecutive week of oil price hikes, attributed to increased demand in Northern Hemisphere countries and supply issues due to geopolitical concerns.
