AP FILE PHOTO
MANILA, Philippines—Local companies have hiked prices of fuel products starting Tuesday to reflect the increases in oil prices abroad.
Pilipinas Shell Petroleum Corp., Petron Corp., Chevron Philippines, Seaoil Philippines, Phoenix Petroleum and Total Philippines have raised prices of premium gasoline by P1.15 a liter, regular gasoline by 70 centavos a liter, and kerosene by 25 centavos a liter.
Prior to this week’s oil price hike, local prices of gasoline ranged from P48.40 a liter to P57.41 a liter. Diesel prices, meanwhile, ranged from P39.95 a liter to P44.25 a liter.
As of November 19, the price of Dubai crude rose to $108 a barrel from $106 on November 12.
Prices of regular gasoline based on the Mean of Platts Singapore (MOPS) benchmark inched up to $110 a barrel from $109 during the same period.
MOPS-based prices of unleaded gasoline and kerosene slightly rose to $123 a barrel and $126 a barrel respectively as of November 19.
Diesel prices, meanwhile, remained flat at $125 a barrel during the week.