INQUIRER FILE PHOTO
MANILA, Philippines —The pump prices of petroleum products will climb by P0.10 per liter on Tuesday, Jan. 9, as the world oil market grapples with concerns over the global economy.
In separate advisories, local oil firms said they would increase the price of gasoline and diesel by 10 centavos per liter.
The price of kerosene will likewise rise by 10 centavos per liter.
Shell and Seaoil will implement the price adjustments by 6 a.m. on Tuesday.
According to Rodela Romero, director of the Department of Energy (DOE) Oil Industry Management Bureau, fuel prices “swung wildly” due to mounting tensions in the Red Sea and “concerns about the global economy.”
READ: Oil slips as higher OPEC supply, Saudi price cuts offset Mideast worries
Last week, oil firms cut the prices of gasoline by 10 centavos per liter, diesel by 35 centavos per liter and kerosene by P1.40 per liter.
READ: Oil firms roll back gasoline, diesel and kerosene prices
DOE data show that prevailing pump prices in Metro Manila ranged from P50.49 per liter to P78.81 per liter.