Oil companies raise prices of diesel, gasoline

Local pump prices swung back up by 70 centavos per liter of diesel and by 60 centavos per liter of gasoline as international efforts related to vaccination against COVID-19 raised prospects for oil demand. Caltex raised prices at 12:01 a.m. followed by Petron, Shell, Seaoil, Total, PTT and Phoenix at 6 a.m. Cleanfuel did so at 4:01 p.m. Petron, Shell, Caltex and Seaoil also hiked prices of kerosene by 85 centavos per liter. Dubai crude, the Asian bellwether, rose to $63.48 per barrel as of April 15 from $61.47 a week ago.

—Ronnel W. Domingo