MANILA, Philippines — Local pump prices rose for the fourth week in a row, this time by 70 centavos per liter of diesel and by 75 centavos per liter of gasoline as a firm outlook on demand growth pushed crude oil prices toward $70 per barrel.
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. Also, Petron, Shell, Caltex and Seaoil raised prices of kerosene by 70 centavos per liter.
Brent crude, the international benchmark, was pegged at $68.91 per barrel as of press time, up from $67.56 on May 3. Dubai crude, the Asian bellwether, was at $66.66 per barrel as of May 5, jumping from $62.81 per barrel a week earlier.
—Ronnel Domingo
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