Fuel prices up again for 10 weeks now
Pump prices of petroleum products climbed for the 10th consecutive week on Tuesday, as local oil companies announced hikes by up to 40 centavos per liter.
In separate advisories, the oil companies raised the price of diesel by 40 centavos per liter and gasoline by 20 centavos per liter.
This marks the ninth straight week of price increases for gasoline.
The price of kerosene likewise rose by 20 centavos per liter.
Caltex implemented the price adjustments at 12:01 a.m.; followed by Seaoil, Jetti Petroleum, Petro Gazz and Shell at 6 a.m.; and CleanFuel at 4:01 p.m.
Global supply continued to decline despite high demand as Saudi Arabia is expected to extend its production cuts until this month, according to the Department of Energy Oil Industry Management Bureau.
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READ: Oil companies raise diesel, pump prices for 3rd time
