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Oil prices up 4 weeks in a row

Oil firms are set to raise their prices starting this morning, marking the fourth consecutive week of an increase.

In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Total said they will increase P0.75 per liter on gasoline products, and P0.70 per liter on diesel.

Caltex, Seaoil, and Shell will also hike kerosene prices by P0.70 per liter.

Other oil companies have yet to announce similar price adjustments.

“Dubai crude has increased week-on-week by almost USD1.20 per barrel. MOPS or Means of Platts Singapore gasoline and diesel have also increased by around USD1.60 and USD1.20 per barrel, respectively,” the DOE oil monitor bulletin said.*PNA

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