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Another fuel price increase this week

The prices of fuel products will increase anew this week.

Starting this morning, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Total will increase diesel prices by P0.40 per liter, and gasoline prices by P0.50 per liter.

Caltex, Seaoil, and Shell will also raise kerosene prices by P0.30 per liter.

This is the third straight week that oil firms hike their prices.

The price adjustments reflect the trading of the commodity in the international market.

Data from the Department of Energy show that Dubai crude has increased by USD2.40 per barrel during May 31 to June 4 trading days compared to the previous week.

In the same trading week, Means of Platts Singapore prices for gasoline and diesel also went up by USD0.85 per barrel and USD2 per barrel, respectively.

With the price increase to be implemented this week, the year-to-date increase in prices of gasoline is pegged at P10 per liter, P8.55 per liter for diesel, and P7 per liter for kerosene.*PNA

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