Oil companies raise fuel prices for 6th straight week
Fuel pumps stock photo
MANILA, Philippines — Local fuel prices are set to increase for the sixth consecutive week, major oil firms announced on Monday.
In separate advisories, oil companies said prices of gasoline and diesel would go up by P1.05 and P1.20 per liter, respectively, while prices of kerosene would increase by P1.25 per liter effective on Tuesday.
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Prices of Brent crude hit $94 a barrel this week — its highest since October 2016 — as supply constraints in the global market have yet to ease. Analysts said world oil prices might continue its upward trend until March.
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