Phoenix, Seaoil Hike Pump Prices of Gasoline by Php1.10/ltr and Diesel by 60c/ltr

Manila (PNA) — Phoenix Petroleum Philippines and Seaoil Philippines Inc (SPI) will hike pump prices of gasoline by Php 1.10 per liter and diesel by 60 centavos per liter on Tuesday.

Phoenix Petroleum will enforce price changes on Tuesday at 6 a.m., while SPI will implement movements at 12:01 a.m.

SPI will also increase kerosene prices by 80 centavos per liter.

Phoenix and Seaoil said the price hike was caused by movement in the prices of refined petroleum products in the world market.

Based on the Department of Energy’s (DOE’s) oil monitor in Metro Manila as of March 24, diesel was sold between Php 25.40 per liter and Php 31.70 per liter, with a common price in service stations at Php 28.25.

Prices of gasoline, on the other hand, range from Php 37.27 to Php 42.82 per liter. It has a common price of Php 41.35 in most gas stations.

Overall, for this year, the DOE said gasoline prices per liter had increased by 27 centavos, while diesel per liter fell by Php 1.62. (PNA) RMA/JLD/EDS