After hefty rollback, oil firms raise fuel prices

MANILA, Philippines — After enjoying a big price rollback last week, motorists were greeted with a hefty fuel increase on Tuesday after global oil prices posted their largest weekly gain since August.

In separate advisories, Chevron, Petron and Shell announced the increase in the prices of gasoline, diesel and kerosene by P1.60 per liter, P1.35 per liter and P1.20 per liter, respectively, effective on Tuesday.

Other oil firms like Cleanfuel, PTT, Petrogazz and Seaoil likewise implemented the same price adjustments, the highest since October.

Since January, prices have recorded a cumulative net increase of P15.85 for gasoline, P15.90 for diesel and P11.65 for kerosene. Dubai crude, the Asian bellwether, was at $73.69 per barrel as of Dec. 7, up from $68.91 a week ago.