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MANILA, Philippines — Oil companies implemented yet another round of hefty price hikes effective on Tuesday, a week after they jacked up their prices by as much as almost P2 per liter.
In separate advisories, Seaoil, Cleanfuel, Shell Pilipinas, Jetti, PTT Philippines, and Petro Gazz announced increases in the prices of their products per liter: P1.75 for diesel, P1.05 for kerosene, and P1.40 for gasoline.
READ: Pump prices up this week by 85 centavos to P1.90/liter
According to Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, the oil price hikes this week could be attributed to “continued geopolitical tensions and supply risks.”
She cited the June 18 Ukrainian drone strike that caused a fire at a major Russian oil terminal and Israel’s “all-out war” with Lebanon’s Hezbollah.
Last week, the prices per liter of gasoline went up by 85 centavos, diesel by P1.75 and kerosene by P1.90. —Lisbet Esmael