Oil Firms Hike Pump Prices of Gas at P1.05/liter; Diesel at P0.15/liter

Oil firms hike gasoline prices by Php1.05 per liter and diesel prices by Php0.15 centavos per liter Tuesday.

Seaoil Philippines Inc. (SPI) and Chevron Philippines Inc. (CPI) will increase prices at 12:01 a.m., while PTT Philippines and Phoenix Petroleum Philippines will boost prices at 6 a.m.

SPI and CPI will also hike kerosene prices by Php0.15 centavos per liter.

Phoenix Petroleum said the increase was due to movements in the international markets and foreign currency fluctuations.

On Monday, diesel prices per liter played between Php28.80 to Php32.05, according to the Department of Energy’s (DOE’s) oil price monitor for Metro Manila.

Most retail stations offered diesel at Php29.90 per liter.

Gasoline per liter, on the other hand, was sold from Php41.19-45.80. It had a common price of Php45.80 per liter.

Consumer-group Citizenwatch said “it is surprised with the big jump of prices, compared to the reductions that took place less than three weeks ago.”

It also urged energy and oil regulators to put more transparency measures in determining oil prices. (PNA) LGI/JLD