Oil companies raise prices of diesel, gasoline

Local pump prices of diesel rose on Tuesday for the sixth straight week, this time by 40 centavos per liter, bringing the total to P2.70 per liter. Prices of gasoline increased for the second week in a row, this time by 80 centavos per liter. Caltex changed prices at 12:01 a.m. followed by Petron, Shell, Seaoil, PTT and Phoenix at 6 a.m. and Cleanfuel at 4:01 p.m. Petron, Shell, Caltex and Seaoil also raised prices of kerosene by 25 centavos per liter. Dubai crude, the Asian bellwether, was at $66.32 per barrel as of May 27, down from $65.39 a week ago.

—Ronnel W. Domingo