Oil, LPG Prices to Rise Anew

Oil prices in the Philippines are set to increase anew today as multiple oil firms announce hikes in separate advisories.

Oil firms Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Unioil said in their announcements that they will increase their diesel prices by PHP0.40 per liter, while their gasoline prices are set to increase PHP0.80 per liter.

Meanwhile, oil firms Caltex, Seaoil, and Shell also said in their announcement that their Kerosene prices will increase by PHP0.25 per liter.

liquefied petroleum gas (LPG) price was also not left off as it is set to increase between PHP2 and PHP2.50 per kilogram. The increase to LPG prices is due to higher global contract price of LPG for June. The said increase will then translate an average of PHP22 to PHP27.50 per a standard 11-kg LPG tank.

Oil prices have been constantly rising as the world slowly recovers from the COVID-19 pandemic. Year-to-date adjustments in gasoline prices are at an increase of PHP8.50 per liter, PHP7.20 per liter for diesel.

Meanwhile, year-to-date price increase for kerosene is PHP5.85 per liter. (GFB)