MANILA, Philippines – Local prices of petroleum products continue their uptrend, increasing by almost P1 a liter beginning Tuesday, oil companies announced.
In separate advisories on Monday, Shell Pilipinas, Cleanfuel, PetroGazz, and Seaoil said the per-liter price of diesel would be costlier by 95 centavos.
Gasoline and kerosene will also be more expensive by 60 centavos and 30 centavos a liter, respectively.
The fresh price movement in gasoline marks its fourth straight week of hikes. Industry sources earlier said the upward price adjustments this week could be influenced by persistent geopolitical conflict and supply fears.
“Firmer demand for gasoline and diesel, with the start of the summer driving season in northern hemisphere countries, and lower regional supply, due to ongoing refinery maintenance and persistently low outflows from China, have further supported prices,” Jetti Petroleum Leo Bellas said late last week.
Source: Inquirer.net
