Oil firms raise gasoline, diesel prices

Local pump prices of gasoline rose Tuesday for the eighth straight week, as did those of diesel for the third week in a row as strong hurricanes battered major oil producing areas in the United States.

Oil firms added 45 centavos per liter to the price of gasoline, which brings the cumulative increase to P3.74 per liter so far this year.

Diesel prices went up for the second straight week with an additional P1.30 per liter at the pump.

As of press time on Monday, companies that announced price hikes included Pilipinas Shell Petroleum Corp., PTT Philippines Corp., Flying V, Phoenix Petroleum Philippines Inc., Eastern Petroleum Corp., and Seaoil Philippines Inc. Shell, Flying V, and Seaoil raised kerosene prices by 90 centavos a liter. —Ronnel W. Domingo