Oil companies raise prices of diesel, gasoline
MANILA, Philippines — Pump prices of diesel rose on Tuesday for the 12th consecutive week, this time by 10 centavos per liter, bringing the total increase to P5.35 per liter as the crude oil rally pushed on.
Prices of gasoline increased for the seventh week in a row, now by 60 centavos per liter, with the total increment reaching P4 per liter.
Caltex raised prices at 12:01 a.m. followed by Shell, Seaoil, PTT and Total at 6 a.m.
On the other hand, Shell, Caltex and Seaoil lowered the prices of kerosene by 10 centavos per liter after five consecutive weeks of increases.
Brent crude, the international benchmark, was pegged at $76.33 per barrel as of press time, rising from $74.14 on June 28. Dubai crude, the Asian bellwether, was at $71.57 per barrel as of July 1, down from $71.60 per barrel a week earlier.
