Oil firms will impose increases anew in their pump prices effective today.
In separate advisories, Chevron, Cleanfuel, Petro Gazz, Petron, PTT Philippines, Seaoil, Shell, and Unioil will implement a big-time increase in diesel prices by P1.25 per liter.
Chevron, Petron, Seaoil, and Shell will also hike kerosene prices by P1.10 per liter.
Prices of gasoline will go up by P0.75 per liter.
The Department of Energy said year-to-date adjustments of pump prices posted a net increase of P3.25 per liter for gasoline, P2.65 per liter for diesel, and P2.25 per liter for kerosene.
“Crude oil futures likewise settled higher amid tightened supply outlooks, demand optimism, and a weaker US dollar. In Asia, crude oil futures were continuing to trade higher as coronavirus infection rates were seen easing in several countries, helped along by the rollout of vaccines, and fuelling positive demand sentiment,” the DOE oil monitor bulletin said.*PNA