Local fuel prices went up for the fourth week in a row as the global market anticipated losing significant output from Iran, which is facing economic sanctions from Western countries.
Oil companies raised prices of diesel by P1.20 per liter and gasoline by 95 centavos per liter starting at 6 a.m. on Tuesday.
Those which have announced price increases include Pilipinas Shell, PTT, Seaoil, Total, Chevron (Caltex), Phoenix, Eastern Petroleum, and Flying V.
Shell, Caltex, and Seaoil also raised the prices of kerosene by 95 centavos per liter.
Based on monitoring by the Department of Energy, the latest price changes brought the price of diesel in Metro Manila to within the range of P43.30 to P48.05 a liter.
A liter of gasoline with an octane rating of 95 is now in the range of P51.00 to P62.83 while a liter of kerosene is now at P47.67 to P57.85. —RONNEL W. DOMINGO