Oil companies hike prices of diesel, gasoline

INQUIRER FILE PHOTO/ALEXIS CORPUZ

Local pump prices of diesel rose on Tuesday for the sixth time in as many weeks, this time by 25 centavos per liter for a total of P2.55 per liter. Prices of gasoline also increased by 15 centavos per liter. Caltex changed prices at 12:01 a.m. on Tuesday followed by Petron, Shell, Seaoil, Total, PTT and Phoenix at 6 a.m. and Cleanfuel at 4:01 p.m. Petron, Shell, Caltex and Seaoil reduced prices of kerosene 15 centavos per liter. Brent crude, the international benchmark, was pegged at $67.64 per barrel, down from $69.46 on May 17. Dubai crude, the Asian bellwether, was at $65.39 per barrel as of May 20, down from $65.42 a week ago.

—Ronnel W. Domingo