Oil companies hike prices of diesel, gasoline

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