PUMP prices will be hiked once again this week, as fuel retailers yesterday announced a major increase following the slight rollback implemented last week.
In separate advisories, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will increase prices per liter of gasoline by P1.60, diesel by P1.10, and kerosene by P1.05.
Cleanfuel will implement the same changes, excluding kerosene which it does not carry.
The adjustments will take effect at 6 a.m. today for all the firms except for Cleanfuel which will hike prices at 4:01 p.m.
The latest advisories are in line with projections made by the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) last week, citing the conflict at the Lebanese border, the surge in US crude stockpiles, the disruption of shipping in the Red Sea and the Suez Canal, and the expected strong demand this year.
Firms last week lowered prices per liter of gasoline by P0.60, diesel by P0.10, and kerosene by P0.40.
Data from the DOE indicate year-to-date net increases of P4.45 per liter for gasoline, P4.30 per liter for diesel, and P0.45 per liter for kerosene as of February 13. (GMA Integrated News)
