Gasoline price up by P0.20, diesel by P0.40

MANILA, Philippines — Oil firms are raising pump prices anew today, extending the streak of increases in diesel and kerosene prices to a 10th consecutive week and gasoline for a ninth straight week.

In separate advisories yesterday, oil companies said prices would go up by P0.20 per liter for gasoline, P0.40 per liter for diesel and P0.20 per liter for kerosene.

The upward price adjustments will take effect at 6 a.m. today for most companies, except for Caltex which implemented the price movements at 12:01 a.m. and Cleanfuel which will implement it at 4:01 p.m.

This week’s adjustments reflect the movement in the international oil market, as global prices rose after Saudi Arabia and Russia announced last week that they will extend the production cut up to December.

The 10 straight weeks of upward adjustments in the prices of diesel and kerosene have now totaled to P14.80 per liter and P13.95 per liter, respectively.

The nine consecutive weeks of increases in gasoline prices, on the other hand, have amounted to P9.85 per liter.