PTT Philippines, Pilipinas Shell hike fuel prices effective Tuesday

AFP PHOTO

MANILA, Philippines—At least two oil firms announced Monday that they are raising the prices of fuel starting 6 a.m. Tuesday, as demand has recovered.

PTT Philippines said in an official announcement that it will raise pump prices by P1 per liter for gasoline and by 50 centavos per liter for diesel.

Pilipinas Shell is also increasing the pump prices of gasoline by P1 per liter, kerosene by 25 centavos a liter and diesel by 40 centavos/liter.

Other oil firms have not made similar announcements. However, since most oil firms operating locally source their products abroad, they tend to follow similar price trends.

This is the third oil price increase this year for major products diesel and gasoline. The first two were on the last week of January and second week of February. All other weeks since the start of the year brought rollbacks.