Oil companies implement major hike in fuel prices | Inquirer News
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Oil companies implement major hike in fuel prices

/ 04:34 AM October 05, 2021

MANILA, Philippines — Local oil companies raised fuel prices for six weeks in a row on Tuesday with the latest increase — the heftiest — at P2.05 per liter for diesel and P1.45 per liter for gasoline as world oil prices hovered near $80 per barrel.

Caltex increased its prices at 12:01 a.m. while Petron, Shell, Seaoil, PTT and Phoenix followed at 6 a.m. Petron, Shell, Caltex and Seaoil likewise raised prices of kerosene by P2.05 per liter.

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The six-week run added a cumulative total of P5.65 per liter to the prices of diesel, P4.10 on gasoline and P5.30 on kerosene.

The global benchmark Brent crude oil rose to $79.21 per barrel as of press time, from $78.72 per barrel on Sept. 27.

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Dubai crude oil was pegged at $72.61 per barrel as of Sept. 30, climbing from $72.35 per barrel a week earlier.

—RONNEL W. DOMINGO
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TAGS: fuel prices, oil firms
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