Oil firms announced higher pump prices on Tuesday.
In separate advisories Monday, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will increase gasoline and diesel prices by 80 centavos.
Kerosene prices at Caltex, Seaoil, and Shell stations will also increase by 10 centavos.
Last Friday, oil prices in the global market settled to its three-week high amid expectations of additional sanctions on Russia and Iran as well as geopolitical volatility in the Middle East.
“Year-to-date, total adjustment of gasoline and diesel stands at a net increase of PHP11.35 per liter and PHP9.55 per liter, respectively. On the other hand, kerosene has a total net decrease of PHP1.90 per liter,” the Department of Energy (DOE) said.
Data from the DOE showed that current prices of gasoline ranged from PHP49.75 to PHP73.76 per liter; diesel prices ranged from PHP48.20 to PHP69.35 per liter; and PHP69.99 and PHP80.84 per liter. (PNA)
