By Kris Crismundo | Philippine News Agency
Motorists will see big-time price hikes in petroleum products effective Tuesday.
In separate advisories on Monday, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell announced a hike in gasoline prices by P2.65 per liter and P2.70 per liter for diesel.
Kerosene prices will also increase by P2.60 per liter.
The price adjustment will start as early as 12:01 a.m. Tuesday.
Other oil firms are expected to follow suit.
This will be the fourth straight week of oil price increases since Sept. 16.
Global oil prices have been on the rise as the crisis in the Middle East intensifies.
The Philippine peso also weakened against the US dollar in the previous trading days.
“Year-to-date, total adjustment of diesel stands at a net increase of P4.05 per liter while gasoline remains at P6.40 per liter. On the other hand, kerosene has a total net decrease of P5.35 per liter,” DOE said.
With the oil price hike last week, gasoline prices in Metro Manila ranged between P49.10 and P84.87 per liter, P46.40 to P69.95 per liter for diesel, and from P67.29 to P78.14 per liter for kerosene.