MANILA, Philippines — Pump prices of diesel went up for the seventh week straight, this time by 85 centavos per liter, as rising optimism about COVID-19 vaccines rev up international demand for oil.
Caltex was the first to raise, effective midnight, while Petron, Shell, Seaoil, Total, Phoenix, PTT, and Unioil follow at 6 a.m. Tuesday. Cleanfuel will raise prices at 4:01 p.m.
Gasoline prices were also raised by 75 centavos per liter. Petron, Shell, Caltex, and Seaoil will also increase the prices of kerosene by 80 centavos per liter.
As part of a series of promos in the run-up to Christmas Day, Petron will give a 50-percent discount on all fuels between 11 a.m. and 1 p.m., also on Tuesday.
As of press time, the Asian bellwether Dubai crude was at $50.08 per barrel as of Dec. 17, up from $49.29 last Dec. 10. —Ronnel Domingo