Four Oil Companies to Hike Pump Prices of Gasoline by 95 Centavos/ltr and Diesel by 65 Centavos/ltr on Tuesday

Manila (PNA) –- Four oil companies will increase pump prices of gasoline by 95 centavos per liter and diesel by 65 centavos per liter on Tuesday.

Seaoil Philippines Inc. (SPI), Petron Corp., and Phoenix Petroleum Philippines will implement the price hike at 6 a.m. while PTT Philippines at 12:01 a.m, both on Tuesday.

Petron and Seaoil will also increase their kerosene product prices by 50 centavos per liter.

The oil firms said the price adjustment was brought by the erratic price movement of refined petroleum products in the international market.

As of April 28, the Department of Energy’s (DOE’s) oil monitor for Metro Manila noted that diesel product prices per liter have a price range of Php 28-31.30. It has a common price of Php 30.

Gasoline, on the other hand, have a per liter price range of Php 39.65-45.25. It has a common price of Php 43.85 per liter.

For this year, gasoline per liter had a total increase of Php 3.07, while diesel per liter has a total hike of 11 centavos. (PNA) RMA/JLD/NOD