Oil firms hike diesel price by 95¢ per liter, gasoline by 40¢

MANILA, Philippines — Local oil companies will implement another round of fuel price increases effective Tuesday, April 16.

In separate advisories, the companies said the pump price per liter of gasoline would climb by P0.40 and diesel by P0.95  per liter on Tuesday, April 16. The price of kerosene will likewise rise by P0.85 per liter.

In separate advisories, the companies said the price per liter of gasoline would climb by P0.40 and diesel by P0.95 on Tuesday, April 16. The price of kerosene will likewise rise by P0.85 per liter.

Shell Pilipinas and Seaoil will implement the price adjustments by 6 a.m., followed by CleanFuel at 4:01 p.m.

This marks the fifth consecutive week of price hikes for gasoline, and the second for diesel and kerosene.

READ: Fuel prices up by P1.10 to P1.55 per liter effective April 9

This week’s upward adjustments, however,  are lower than the increases last week.

Last Tuesday, the local oil companies jacked up the prices of petroleum products by as much as P1.55 per liter.

READ: Iran strikes to boost oil prices, but maybe not for long, analysts say

According to the Department of Energy Oil Industry Management Bureau, Israel’s attacks on Gaza Strip pulled prices up. However, it said crude and fuel inventory buildup in the United States tempered the increases.— Meg J. Adonis, Jordeene B. Lagare