Diesel, gasoline prices rise for 4th straight week

Credit to Author: besguerra| Date: Mon, 28 Jan 2019 21:33:13 +0000

Pump prices of petroleum products went up for the fourth straight week as crude oil prices continued to rise in the world market.

Shell, Seaoil, PTT, Total and Eastern on Monday announced a price increase of 55 centavos per liter of diesel and 20 centavos per liter of gasoline.

Shell and Seaoil also increased the price of kerosene by 40 centavos.

Prices of Dubai crude, the bellweather for Asian markets, reached $59.16 per barrel on Jan. 24, from $58.86 on Jan. 17.

According to the Department of Energy, oil prices rose again due to global supply cuts. —Ronnel W. Domingo