Oil companies raise pump prices for 3rd week

MANILA, Philippines — Pump prices went up again for the third straight week as easing lockdown measures nudged demand upward. Shell, Seaoil, Total, PTT and Phoenix raised diesel prices by P2.10 per liter, bringing the three-week total to P4.55 per liter.

Gasoline prices went up P1.75 per liter, rising for the fourth week for a total of P5.75 per liter.

Shell and Seaoil also raised the price of kerosene by P2.65 per liter, the third increase in as many weeks, totaling at P6.25 per liter.

At the crude oil futures market, Brent crude prices was pegged at $35.12 per barrel. Dubai crude was pegged at $30.62 per barrel as of May 21.

—Ronnel W. Domingo