LOCAL oil companies announced fuel prices will increase again as adjustments are set to be made beginning today.
Caltex, Cleanfuel, Petron, Phoenix, Seaoil, and Shell announced yesterday their gasoline prices would go up by P0.30 per liter and diesel by P0.70 per liter.
Caltex, Petron, Seaoil and Shell also said a P0.80 increase in kerosene price.
For Caltex and Cleanfuel, the adjustment will take effect at 12:01 a.m. and 4:01 p.m., respectively. The rest of the firms will begin the price hike at 6 a.m.
These hikes mark the country’s eighth consecutive week of fuel price spikes.
An expert said the price hikes followed fears of supply cuts after Saudi Arabia said it was studying the extension of its voluntary oil production cut until October. (Charie Abarca © Philippine Daily Inquirer)
