MANILA — Independent player Eastern Petroleum has decided to raise prices of diesel and kerosene by 85 centavos a liter and of gasoline by 45 centavos a liter effective Tuesday, reflecting the increases in global oil prices last week.
The latest price adjustment followed the price hike implemented by oil companies last May 31 and broke the successive price reductions seen early in May.
Prior to Tuesday’s oil price hike, diesel prices ranged from P42.60 a liter to P44.60 a liter while gasoline retailed for P51.25 a liter to as high as P57.52 a liter. As of May 31, the net increase in gasoline had reached P5.67 a liter and P5.30 a liter for diesel products.
Other oil companies have yet to announce their respective price adjustments, as of press time. /INQUIRER