Gas prices increase again Tuesday
MANILA, Philippines — Another round of price hikes will be implemented by oil companies this week as Brent crude tested the $79 per barrel level and the peso sank to its lowest in over a decade last week.
Gasoline prices will be up by 50 centavos per liter, diesel by 15 centavos and kerosene by 20 centavos effective today.
Eastern Petroleum, Flying V, Petron Corp., Phoenix Petroleum Philippines Inc., Pilipinas Shell Petroleum Corp., PTT Philippines Corp., Seaoil Philippines Inc. and Total Philippines Corp. are implementing their respective price adjustments at 6 a.m.
Caltex and UniOil Petroleum Philippines Inc. have yet to announce their respective price changes as of this writing.
During last week’s trading, crude prices hovered at the $79 per barrel level for most of the week, triggered by concerns over more US sanctions on Iran.
The drop in US crude inventories as well as the impact of Hurricane Florence on the US East Coast pushed up oil prices last week.
In the country, the peso weakened to 54.13: $1 last Thursday, the lowest level for the peso since closing at 54.155 to $1 on Dec. 2, 2005.
- Latest
- Trending
