Oil firms hike prices again
Credit to Author: JORDEENE B. LAGARE| Date: Mon, 20 May 2019 17:02:17 +0000
OIL companies increased their pump prices on Tuesday, a week after implementing a substantial price rollback.
The price of diesel went up by 80 centavos per liter, gasoline by 90 centavos per liter and kerosene by 75 centavos per liter.
Caltex implemented the price adjustment at 12:01 a.m., while Eastern Petroleum, Flying V, Jetti Petroleum, Petro Gazz, Petron, Phoenix Petroleum, Pilipinas Shell, PTT Philippines, Seaoil and Total followed at 6 a.m.
Oil firms increased their pump prices as global crude prices climbed on Monday. A report by Reuters said Brent crude gained 1.3 percent at $73.11 per barrel, while the US West Texas Intermediate crude inched up 1.1 percent at $63.47 a barrel.
Last week, industry players slashed the prices of gasoline and kerosene by P1.25 per liter and 30 centavos per liter, respectively. The cost of diesel is unchanged.
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