Oil Prices Increase for the Third Time in January

As the first month of the new years draws to an end, oil prices in the country continue to soar up as oil firms announce new price adjustments to oil products.

The new price increase comes as oil firms Caltex, Cleanfuel, Petro Gazz, Seaoil, Shell, and Unioil said in separate advisories that their gasoline prices will increase by a total of PHP0.90 per liter, while their diesel prices are set to increase by PHP1.80 per liter.

Moreover, oil firms Caltex, Seaoil, and Shell will also increase kerosene prices by a whopping PHP2.30 per liter.

Other oil firms are expected to follow the price adjustments.

The new oil price adjustments will take effect Tuesday.

Year-to-date price adjustments for gasoline stands at a net increase of PHP2.60 per liter, PHP3.50 per liter for diesel, and PHP2.75 per liter for kerosene. (GFB)