Oil companies raise diesel, pump prices for 3rd time

Local pump prices went up for the third straight week, this time by 35 centavos per liter of diesel and by 20 centavos per liter of gasoline amid optimism on global demand, especially in the United States. Caltex raised prices at 12:01 a.m. followed by Petron, Shell, Seaoil and PTT at 6 a.m. while Cleanfuel did so at 4:01 p.m. Petron, Shell, Caltex and Seaoil also raised prices of kerosene by 35 centavos per liter. Brent crude, the international benchmark, was pegged at $66.73 per barrel as of press time, up from $65.03 on April 26. Dubai crude, the Asian bellwether, was at $62.90 per barrel as of April 29, down from $63.23 a week ago.

—Ronnel W. Domingo