Pump prices of petroleum products went up again for the second week in a row as global market watchers saw hints of a rebound in worldwide demand.
Local oil firms raised prices as early as midnight of Tuesday, with that of diesel rising by 50 centavos a liter and of gasoline by 35 centavos a liter.
As of press time on Monday, companies that gave notice of price hikes included Flying V, Phoenix Petroleum Philippines Inc., Eastern Petroleum Corp., Pilipinas Shell Petroleum Corp., Seaoil Philippines Inc., and PTT Philippines Corp.
Flying V, Shell, Seaoil, and PTT also raised kerosene prices by 40 centavos a liter.
Based on data from the Department of Energy, the price adjustments will bring prices of diesel in Metro Manila to the range of P28.83 to P34.05 a liter. —Ronnel W. Domingo