Oil companies raise prices of diesel, gasoline anew

Pump prices of diesel rose on Tuesday for the 11th consecutive week, this time by 65 centavos per liter, bringing the total increase to P5.25 per liter as the crude oil rally gains a second wind. Also, prices of gasoline increased for the sixth week in a row, now by P1 per liter. Caltex raised prices at 12:01 a.m. followed by Petron, Shell, Seaoil, PTT and Total at 6 a.m. and Cleanfuel at 4:01 p.m. Petron, Shell, Caltex and Seaoil also raised prices of kerosene by 70 centavos per liter. Brent crude, the international benchmark, was pegged at $75.93 per barrel from $74.05 on June 21. Dubai crude, the Asian bellwether, was at $71.60 per barrel as of June 24, down from $70.94 per barrel a week ago.

—Ronnel W. Domingo