Diesel, gasoline prices up by more than P1 per liter

Oil companies have raised pump prices by an average of more than P1 per liter for the second week in a row as crude prices briefly broke the $80-per-barrel threshold for the first time in four years last week.

Starting at 6 a.m. on Tuesday, diesel prices went up by P1.15 per liter as did gasoline by P1.60 per liter.

The companies that have announced price hikes included Pilipinas Shell, PTT Philippines, Total Philippines, Chevron Philippines and Flying V. Diesel and gasoline prices have gone up by P10.01 and P9.67 per liter, respectively, this year.

In a statement, Sen. Sherwin Gatchalian urged the government to prepare in case prices of crude oil reached $100 per barrel. —Ronnel W. Domingo