Oil companies raise pump prices of gasoline, diesel
MANILA, Philippines — Local oil companies raised pump prices after two consecutive weeks of reductions as the global market took the decision of the Organization of Petroleum Exporting Countries and its allies to boost output as a sign of rising demand.
Petron, Shell, Caltex, Seaoil, Total, PTT and Cleanfuel raised prices of gasoline by 65 centavos per liter. Caltex was the first to move at 12:01 a.m., Cleanfuel did so at 4:01 p.m. while the rest followed suit at 6 a.m. They also raised prices of diesel by 5 centavos, except Cleanfuel, which kept it unchanged.
Petron, Shell, Caltex and Seaoil increased prices of kerosene by 5 centavos per liter. Brent crude, the international benchmark, was pegged at $63.56 as of press time.
Dubai crude, the Asian bellwether, was at $64.51 per barrel as of April 1, up from $64.05 per barrel a week ago.
